The Conservative party has outlined its plans for inheritance tax and for those who claim non-domicile status.
In his speech to the Conservative Party Conference, Shadow Chancellor George Osborne said that he would promise to not tax the income of non-domiciles who register in the UK but instead would charge a flat annual levy of £25 000. He explained: “It is easy to administer, difficult to avoid and strike the right balance between a fair tax system and a competitive economy. Introducing this offshore levy covers the cost of abolishing stamp duty for 9 out of 10 first time buyers.” Osborne also trumpeted radical plans for inheritance ax. He said that inheritance tax had not fulfilled its original ...
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