New draft legislation on the taxation of UK-resident non-domiciles will hit more people than first t...
New draft legislation on the taxation of UK-resident non-domiciles will hit more people than first thought, according to accountancy firm PKF. Published on 18 January, the new legislation states that non-doms who wish to be taxed on the remittance basis for foreign earnings and gains will lose their entitlement to various personal tax allowances - for income tax, personal allowance and blind person's allowance, tax reductions for married couples and civil partners, and payments for life insurance; and, for CGT purposes, the annual exempt amount, currently £9,200. This is in addition to ...
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