Nearly five million people could be eligible for non-dom status according to the Sunday Telegraph, which says information from the Treasury shows up to 4.9 million people could claim non-domicile status because they or their parents came to Britain from overseas.
However, the status only has tax benefits where bank accounts or property are held offshore. And since 2008 the rules for non-domiciled individuals have changed radically. Applying for the special treatment is usually only worthwhile for people with substantial offshore income and gains that they do not intend bringing into the UK.
Lynam Tax domicile specialists have decades of experience in dealing with tax residence and domicile issues.
Call Paul Lynam today for an initial free, confidential, no obligation, discussion: 0845 643 9997