Published 09/27/2024 6:31:00 a.m.

Treasury reconsidering Labour plan for non-dom tax status

The Treasury is reconsidering parts of Labour’s plan to abolish non-domicile tax status due to concerns about revenue loss if wealthy foreigners exit the UK.
Experts have warned that proposed changes are already prompting wealthy non-doms to relocate.
Taxing non-doms has become a key focus for the new government amid tensions over the budget's fairness.

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BBC News

Treasury reconsidering Labour plan for non-dom tax status - Business Fast

The Treasury is reconsidering parts of Labour’s manifesto plan to toughen up the abolition of non-domicile tax status. This is on account of concerns over how much money will be raised, should wealthy foreigners simply leave the UK. “Non-dom” describes a UK resident whose permanent home – or domicile – for tax purposes is outside […]

09/26/2024 8:06:01 p.m.·United Kingdom

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The Independent

Rachel Reeves could scrap non-dom tax raid, reports suggest

Ms Reeves had hoped to raise about £1bn a year by cracking down on the tax perk available to super-rich

09/27/2024 8:21:01 a.m.·London, United Kingdom

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The Telegraph

Labour’s non-dom plan could raise no extra funds, officials fear

Cost of super-rich leaving UK may exceed money raked in by new system, say Treasury sources

09/25/2024 9:22:00 p.m.·London, United Kingdom

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Shropshire Star

Chancellor could be willing to alter non-dom plans, report suggests

Chancellor Rachel Reeves could be willing to change the plans for Labour’s crackdown on non-doms, according to reports.

09/26/2024 6:40:14 p.m.·Ketley, United Kingdom

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Evening Standard

Chancellor could be willing to alter non-dom plans, report suggests

Reports suggest Rachel Reeves could change the policy if the numbers do not add up.

09/26/2024 6:38:14 p.m.·London, United Kingdom

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Sky News UK

Labour's plan to crack down on non-doms 'could be watered down amid concerns it will raise no money'

There are said to be fears the Office for Budget Responsibility, which independently scores every policy, will say it will raise far less than was suggested - if anything at all.

09/27/2024 8:35:00 p.m.·United Kingdom

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