Budget levies non-dom charge

The UK Budget delivered by Chancellor Darling in March provided some concessions for UK resident non-domiciles against the tax and residence measures announced in the pre-Budget report, though fears remain that the Government's position will damage Britain's competitiveness. In his maiden Budget speech, Chancellor Alistair Darling said non-doms made a "central contribution" to Britain's growth and prosperity, but it was "right and fair" that they pay a "reasonable charge" to continue to enjoy the remittance basis of taxation on their foreign-sourced income and gains, while the UK would no...