Expat tax threat could net govt £400m

The Chancellor George Osborne is preparing to push ahead with plans first announced in the March Budget to prevent British expats from offsetting income earned in the UK, such as from renting out their homes, against the £10,000 allowance, the Telegraph reports. The move, which may also hit retirees drawing a government pension, could affect up to 400,000 people and raise the exchequer an extra £400m annually, according to the report. Currently, individuals that derive an income from UK property, but are not resident here for tax purposes, are generally entitled to the same personal t...