Sharp fall in number of non-domiciled a worrying sign – average tax paid per non-dom now over £100k
26 July 2018
Commenting on today’s HMRC statistics on non-domiciled taxpayers, which showed a 23% fall in non-doms paying tax in the UK, Rupert Wilkinson, private client lawyer in our Tax & Trusts team, comments:
“Countries like Italy and Malta are actively seeking to attract non-doms from the UK. If the UK does nothing to counteract it, a lot of these high net worth and ultra-high net worth individuals will leave for a more non-dom friendly country.”
“With Brexit on the horizon, failing to compete with EU countries for non-doms who collectively pay more than £9 billion of tax is unlikely to serve the country’s interests particularly well.”
“The sharp fall in the number of non-dom taxpayers here is a worrying sign as it suggests they are leaving the UK – these individuals pay an average of more than £100,000 each in tax in the UK each year.”
“There is a perception among some that non-doms do not pay their fair share of tax – these statistics show they make a huge contribution to the treasury. It is an easy option for politicians to tax non-doms with impunity, and there is little political backlash as many non-doms cannot vote in the UK.”
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