Non-doms no more?

For some time now the non-domiciled regime has been the subject of debate and competing proposals with both the Conservatives and Labour unsurprisingly being sharply critical of the other’s plans. This ongoing political debate has led to considerable uncertainty as to how the ‘non-dom’ regime will ultimately be reformed.

A Budget and subsequent draft legislation following July’s general election must offer a resolution in time for taxpayers (and their advisers) to understand what is guaranteed to be a complex set of rules so that they can arrange their affairs in advance of the proposed commencement date of 6 April 2025.

It should be recognised that the current uncertainty around the non-dom rules reflects a wider issue plaguing our tax system – unmanageable complexity. The system is already clearly failing to cope with the strain leading to repeated criticism of HMRC’s efficiency customer service ...