Accountancy Age – spot on regarding domicile

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Accountancy Age has discussed the problems that have given rise to the need for a tax amnesty. As it says:

What the taxman needs to create is a culture in which such evasion, and contrived tax avoidance, is frowned upon.

In that context, it should start with its own policies. Where tax on foreign income is concerned, the system of domicile and residence that the UK operates is antediluvian.

Successive generations of politicians have bottled the chance to drop it, even though it helps to create a culture in which tax and civic responsibilities have become obscured.

Taxpayers, seeing wealthy non-doms avoid taxation, may feel they have a right to the same. It's time the rule, for that reason and for many others, was ditched.

100% right Accountancy Age. As is your noting that most commentators have utterly failed to understand the real tax context of this amnesty.


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