Call us on +44 (0)20 7465 4300
aaron-gilmore-aQLdDgROIZQ-unsplash
25 July 2024

Non-doms: Should “fairness” trump  tax raising 

Tax and Trust Experts Sam Carver and David Whithworth, of our Estates and Succession Team, write for TL4PC investigating the impact the Government abolition of the tax regime for UK resident non-domiciled individuals (non doms).

The Sunday Times Rich List this year has reported the largest fall in the UK’s billionaire count in the guide’s 36-year history (down to 165 from a peak of 177). This is because, its authors reveal, “the world’s wealthy are starting to leave”. Considering it is only very recently that the Government announced the abolition of the once attractive tax regime for UK resident non-domiciled individuals (non doms), you might conclude that announcement was not a significant factor behind this exodus. However, none of this has happened in a vacuum and, when one considers the backdrop of political events, it is clear this is not the case.

Click here to read the full article: https://www.phb.co.uk/wp-content/uploads/2024/07/TL_Private_Client_Issue_15_-_Offshore_2-2.pdf

This article is a part of the TL4PC Newsletter, Issue 15, titled Wealth without borders: exploring private client offshore. Click here to read more: https://thoughtleaders4.com/private-client/private-client-knowledge-hub

About the Author
Sam Carver
View Profile
David Whitworth
View Profile