Almost a third of non-doms plan UK flight following tax changes

Furthermore, 7% of non-doms and 2% of HNWIs have already relocated after Budget announcements threatened to hit them hard in the pockets, according to a Market Insight Survey from international estate agents, Knight Frank. Although the 2008 Budget confirmed the special remittance basis of tax would continue for non-dom expats, resident non-doms living in the UK for longer than seven out of ten tax years would incur a tax charge of £30,000 a year. The 2009 Budget added to non-doms' woes, announcing an additional rate of income tax of 50% applying to income over £150,000, to come into for...