Treasury reconsidering Labour plan for non-dom tax status

Quick Summary:

This is on account of concerns over how much money will be raised, should wealthy foreigners simply leave the UK.

For wealthy individuals, this presents the opportunity for significant - and entirely legal - savings, if they state a lower-tax country as their domicile.

They do not have to pay tax to the UK government on money made elsewhere in the world (unless they pay that money into a UK bank account).

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Business

Markets: United Kingdom

Topics: Raised Non-dom Plan Wealthy Raise Money Status Treasury Manifesto Made Changes

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-26 @ 20:06:01 (17 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 427 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 22737317

View Article Analysis

About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 3 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 14 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #43

Publisher Details

Frequently Asked Questions