Darling rethinks non-dom tax hike - papers 12 Feb

The Treasury is understood to be looking at possible concessions after a wave of protests raised fears of an exodus of wealth-creating foreigners from the City. Officials were examining the detail of the proposals and looking at ways of “making clarifications”. The Times understands they are considering introducing provisions to assure non-doms that the Treasury’s aim was not to pry into their world-wide tax affairs, but only to tax the earnings they bring to Britain. American International Group, the world's largest insurer by assets, is to take a $4.88bn (£2.5bn) writedown as it bec...