How will non-dom rules affect your clients?

Offshore tax issues have never been a more contentious topic in the UK. The Government’s efforts to “close the net” on wealth held overseas have been met with broad support from some quarters and vociferous criticism from others. The need to reduce the national debt is clear, but critics argue a hostile tax environment is simply going to drive the wealthy overseas, taking any hope of a trickledown effect with them. In 2008, the historically benevolent tax treatment for UK residents domiciled overseas was swept away, while HMRC’s increasingly aggressive approach (backed up by recent case ...