What is a non-dom and how are the rules changing?

Quick Summary:

The non-domicile rules let some UK residents limit the tax they pay on earnings outside the country.

The former chancellor said getting rid of the non-dom rules would raise £2.7bn a year by 2028-29.

In March 2024, the-then Conservative chancellor Jeremy Hunt had announced that the non-dom tax regime would be phased out.

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Article Details

Author / Journalist: BBC News

Category: Business

Markets: United Kingdom

Topics: People Government Status Mean Abolish Money Non-dom Rules Chancellor Does Bring

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 15:24:02 (1 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.co.uk

Language: English

Article Length: 515 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 21 words per sentence (average)

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

Copyright Owner: © BBC Business

News ID: 23341272

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 9 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 11 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

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