Property News · April 8, 2015

Non-dom status: living and working in the UK, without paying all your tax in the UK


How a colonial era holdover allows the ultra-rich to pay far less tax than a typical British citizen while remaining within the lawNon-domicile – usually abbreviated to non-dom – status is a unique quirk of the UK tax system not shared by any other country. It allows ultra-wealthy individuals to be born, raised and reside in the UK, but still pay far less tax than a typical UK citizen, perfectly legally.The rule, a colonial era holdover that has never been formally codified in statute, is based on the principle that people may live in the UK but regard a foreign country as their true home, the country in which they intend to die. Continue reading…

Source : theguardian.com
Read more…Non-dom status: living and working in the UK, without paying all your tax in the UK

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