Top takeaways from our report - click to view
Here are just five of the key findings and views from our interviewees. To see the full list, please read our report.
- Economic and cultural contributions of non-doms are significant, from creating employment, making major tax contributions, to philanthropy across a plethora of causes.
- If there wasn't a sympathetic tax regime other factors such as culture and education would become less influential.
- The regime is overly complex and confusing, and needs updating.
- The current system enables people who are driven by tax avoidance to abuse the rules.
- The UK is no longer attracting as many non-doms, more are going to Italy than coming to the UK.
Should the UK's non-domiciled tax regime be entirely scrapped? Should further changes be made, continuing the adjustments made over the last 15 years? Or is it time to look at making bold reforms to become more competitive with other tax regimes around the world?
It is clear that, given the UK's political environment and heated debate about the non-dom regime, some degree of change is inevitable.
With this in mind, we prepared our report by speaking to non-doms and the advisors who work with them to understand the practical aspects of whether the regime functions for them and where it fails to do so. We look at the media's portrayal of non-doms and what other countries are doing better. We've also looked at how non-doms make contributions to the country at large, both economically and socially and what impact scrapping the regime would have.
We hope that our research report will help to shape debate and drive a more constructive conversation about non-doms and the rules they are bound to.
CLICK HERE TO READ THE REPORT IN FULL
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