'Buried' budget plans offer tax break to non-doms

In a paragraph on page 63 of the red book, the chancellor said he would raise the inheritance tax exemption for non-doms. At the moment, a taxpayer domiciled in the UK can transfer their entire £325,000 inheritance tax allowance to their spouse if they are also based in Britain. This figure is reduced to £55,000 if a UK taxpayer makes a transfer to a spouse who is not domiciled in the UK. Osborne said he would increase this figure, though he did not say by how much, according to a report in The Guardian. Lord Wood of Anfield, the shadow cabinet minister who unearthed the change,...