Should they stay or should they go?

The Finance Act 2008 contains significant changes to the taxation of individuals who are resident but not domiciled in the UK. Sweeping changes in this area were announced by the Chancellor in his Pre Budget Report in October 2007. Initial draft legislation followed in January 2008. The effect of that legislation would have been far more wide reaching than the end result contained in the Finance Act and there was a real fear that the proposed changes would drive many non-domiciled taxpayers out of the UK. Extensive lobbying by the tax profession followed and the changes, as finally introd...