Non-doms face higher tax bills

New rules introduced last year for people who are resident but not domiciled in the UK could result in many having to pay an annual charge increased to £50,000 a year, says the Financial Times.

The difficulty is that, to justify paying the lower charge of £30,000, non-doms must first work out whether they have been ‘resident’ in the UK for 12 of the last 14 years. This, in itself, is a tricky issue but they then have to work out their ‘remittances’ to the UK (which include all asset purchases in the UK) not just transfers from offshore bank accounts. Experts say even an official 56-page guide to the new rules leaves ‘grey areas’ about what non-doms should include in their tax returns.