Simplify the tax regime to encourage inward investment

HMRC should review the taxation of internationally mobile and non-domiciled individuals to encourage more inward investment according to Blick Rothenberg. 

Robert Pullen partner said: ‘For many years non-doms have had a tax exemption on their overseas income and gains provided the money is not brought into the UK; however this has had a knock-on effect of dampening spending in the UK as non-doms are deterred by suffering UK tax on any amounts brought into the country.’ 

From April 2017 to April 2019 the government allowed funds frozen outside the UK to be restructured and brought to the UK. This unlocked significant capital which would have begun circulating in the economy generating profits and tax revenue.

He added: ‘One way the government could encourage a similar spike in spending would be to reintroduce the special regime from 2017 or to bring in a...