{"id":30813,"date":"2015-10-01T09:51:11","date_gmt":"2015-10-01T08:51:11","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=30813"},"modified":"2015-10-01T09:51:11","modified_gmt":"2015-10-01T08:51:11","slug":"osbornes-crack-down-on-non-doms-is-a-sham","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/10\/01\/osbornes-crack-down-on-non-doms-is-a-sham\/","title":{"rendered":"Osborne’s crack down on non-doms is a sham"},"content":{"rendered":"

The FT's reported this morning <\/a>that (and I make no apology for quoting at length):<\/p>\n

George Osborne\u2019s plans to tighten tax rules for wealthy foreigners living in Britain will leave many offshore trusts outside the UK tax net, according to proposals<\/a> published on Wednesday.<\/p>\n

The Treasury\u2019s consultation on \u201ccarefully targeted\u201d changes to the rules for \u201cnon-doms\u201d \u2013 people who live in Britain but do not consider it their permanent home \u2013 would reassure clients after the chancellor decided to axe permanent non-dom status, tax advisers said.<\/p>\n

David Kilshaw, partner at professional services firm EY, said the planned changes to the non-dom rules \u2013 which exempt offshore income from UK taxation unless it is brought into the country \u2013 \u201creinforce the message that the government is keen to welcome new non-doms without driving the existing ones away\u201d.<\/p><\/blockquote>\n

So in other words we have a change that has no impact at all. I have yet to read the detail, but if offshore trusts are unaffected \u00a0by this move then frankly it is a waste of time: these trusts are\u00a0the way that non-doms hide their income from the UK. If they're outside the scope of the new regime the whole thing is little more than a sham.<\/p>\n

The lesson would appear to be that, yet again, this is tax haven UK saying one thing and doing another. It's the second blog on that theme this morning<\/a>.<\/p>\n

Wouldn't it be good to have a Chancellor who actually wanted to collect the tax owing by those who live in the UK?<\/p>\n","protected":false},"excerpt":{"rendered":"

The FT’s reported this morning that (and I make no apology for quoting at length): George Osborne\u2019s plans to tighten tax rules for wealthy foreigners
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,13],"tags":[],"class_list":["post-30813","post","type-post","status-publish","format-standard","hentry","category-domicile","category-trusts"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/30813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=30813"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/30813\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=30813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=30813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=30813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}