Non-domiciled taxpayers (non-doms) in the UK paid more than £9 billion of income, capital gains tax and national insurance in 2014-15, figures from HM Revenue & Customs (HMRC) reveal.
There were 121,300 registered non-doms in the UK 2014-15. 85,400 of the registered non-doms were UK residents in 2014-15, meaning that on average they each paid about £105,000 to HMRC.
Non-doms located in London and the South East contributed 86 per cent of all the tax paid by this group of people, the data indicates.
Individual nation state tax legislation and case law is becoming increasingly complex in order to deal with the increased mobility as more individuals and business operate in a global arena.
Our international tax experts at Beavis Morgan can help you structure your affairs in the most tax efficient way ensuring that you pay only that tax which you are legally bound to pay in the UK, whilst guiding you through the complex areas of UK legislation and case law. We are also able to introduce you to tax advisers in other nations who will be able to work with us on cross-border issues.
For more information, please contact Alan Ford or you usual Beavis Morgan Partner.