Warning non-dom tax scrap would only dent UK economy troubles

Suggestions of plans for a scrap have been circling in multiple reports

Hope Coumbe
clock • 2 min read

Abolishing the non-dom tax system in the UK would be a ‘significant risk’ for chancellor Jeremy Hunt with little lasting impact, Alvarez & Marsal says.

The business management consultancy said the estimated £3.5bn-£3.6bn yield for the government from a scrap was a "meagre sum" that would not go far to impacting the UK's broader financial picture. The comments from managing director Victoria Price come after multiple reports this morning that Hunt is considering wiping out the historically Conservative-favourite tax to bring some much needed money back into the government. Price warned however that "potential economic implications" of the wider picture need full consideration. "It might prompt ultra-high net worth individuals, who ...

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