The hangman’s noose and non-doms

As George Osborne tightened the noose around the non-domiciliary neck on Wednesday 8 July 2015 the question arises as to whether the patient has finally been strangled or life is hanging on by a thread.

 

For the non-domiciled individual currently residing in the UK the news was not good. George Osborne has finally decided that whatever cost a non-domiciliary is prepared to pay to be allowed to use the remittance basis with respect to his/her foreign income and gains it isn’t enough. The remittance basis is to be denied and the arising basis (which most of us have to suffer) is henceforth to be good enough for them too.

 

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