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Shadow Chancellor proposes a flat �25,000 tax for non domiciled residents

It has been reported by Bloomberg that Shadow Chancellor of The Exchequer, George Osborne is proposing a flat £25,000 levy on UK Residents who are not domiciled in the UK. He is quoted as saying that

You can either register for this levy, or you can take your tax affairs elsewhere

As Richard Murphy says in his blog this sounds like an own goal as, according to Treasury figures, the average amount of tax currently paid by non-domiciled residents is £26,800

 

 

Date: 1st October, 2007
Author: Liz Cuthbertson

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