Qualified advisers answering your
Financial Questions
call 0800 092 1245

Non-Dom Tax Changes Set To Hit A Wider Market

In a move which further undermines the UK government’s taxation policy there are major concerns that the new tax rules brought in to catch ‘non-doms’, and ensure that they pay UK taxes on all income, will impact on a wider market. It looks as though not only will the system be very expensive to run and administer, but the middle classes look like suffering the most.
As European markets open up to outside parties we have seen a major increase in the number of foreign workers assigned to the UK for short term projects. Historically these foreign nationals have not paid UK tax, instead being charged by their domestic tax offices, but it looks like things may change for some of them.
Under the new regulations which the government has said they will bring in, many of these so called ‘mobile international workers’ will be hit with UK taxes unless they can prove their case with reams of paperwork, bank statements and the like. If any funds are transferred to the UK it seems as though they may well be taxed upon these.
As many international companies look to the UK for their European base there are concerns that they will now look elsewhere, robbing the UK of vital talent in the business world.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details