The FT reported today that the new coalition government intends “to review the taxation of non-domiciled individuals” – yet again, creating further uncertainty in this already over-complicated area of UK tax.
Potential changes include scrapping the seven year period of grace; which mainly benefits in-bound professionals on short term contracts (e.g. doctors).
The changes in April 2008 shifted the tectonic plates of taxation for non-domiciliaries. The new rules are mind-bendingly complicated, even for seasoned tax specialists. Further changes can only lead to more confusion and more potential for non-doms to maket mistakes in their tax returns – posibly leading to a costly and intrusive tax enquiry.
How can Lynam Tax specialists help me?
If you are tax resident but non-domiciled in the UK you may well need specialist help. Lynam Tax specialise in this particularly complex area of tax law.
For a free and no obligation, private consultation, call Paul Lynam today: on 0845 643 9997 or Andrew Nutbrown on: 07718 778710