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Non-dom was a special tax regime whereby for 15 years they didnt look at your income from abroad provided it stayed abroad. It costs 30k from year 7 to stay in
by etiennead 1y ago
Non-dom was a special tax regime whereby for 15 years they didnt look at your income from abroad provided it stayed abroad. It costs 30k from year 7 to stay in this regime.
This was great for people who just want to come to the UK to work say in finance for a few years but don't want to move their inheritance regime or finances from other countries. It was much fairer than most people make it out to be since most other countries dropped the double taxation agreement if you opted for this, therefore you would also pay tax in your origin country.
- ZeroGravitas 1y agoThis misses all the people who were "British" and used this scheme to avoid taxes. Here's a list of prominent ones. https://en.wikipedia.org/wiki/List_of_people_with_non-domiciled_status_in_the_United_Kingdom https://en.wikipedia.org/wiki/List_of_people_with_non-domici... A Conservative MP who "inherited" the status. A son of a British newspaper magnate that got it because his dad became a tax exile to France. Hereditary peers in the House of Lords who were claiming to live abroad and so on And many of the "other countries" in these cases are in fact tax havens like Monaco or Belize.