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What does the future hold for non-domiciliary tax, asks LISA SPEARMAN
KEY POINTS
- Changes to the rules must be justified.
- Do not assume the client knows about the regime.
- Check the latest guidance.
- Keep in touch with the client’s other advisers.
- Need for a foreign capital losses election.
Hanging on my office wall is a copy of the Peter Brookes cartoon from The Times that has the caption ‘Practise safe tax. Use a non-dom’.
As a cartoon it’s f
unny but I’m not sure I can think of many less safe areas of tax at present than non-dom.
Since the summer of 2007 the furore around non-domiciliaries has refused to abate.
First it was the outcry about perceived tax avoidance followed in quick succession by the Conservative party...
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