The Labour party’s manifesto promise to abolish ‘non-dom’ status for long-standing visitors to the UK will severely impact the government’s tax receipts, according to senior private client lawyers.
More than 80% of lawyers polled by Legal Week believe Labour’s pledge to scrap the rule that allows some UK residents to limit the tax they pay on earnings outside the country would reduce overall contributions to HMRC. Of the 40 respondents to Legal Week‘s survey, 50% say tax receipts would decrease ‘a lot’, while 33% think they would fall ‘a little’. A handful of respondents believe the move would have no overall impact, while 10% think there would be a small benefit to the country’s coffers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
