I know, it\’s a bit of a shocker but this is simply quite wonderful. You see, Non-Doms don\’t not pay tax at all:
George Osborne has begun to talk tax. On domicile Bloombreg report that he is proposing a flat levy of £25,000 pounds ($51,000) on non- domiciled residents who currently avoid tax.
I’ve got news for George Osborne. The average tax paid by a non-domiciled person now is £26,800, based on Treasury data.
Bravo Mr. Murphy, Bravo!
Surely the tax they currently pay is only on UK earned income? Assuming that the vast majority of the non-domiciled are high net worth individuals their £25K “fee” for this tax beneficial status is additional to any tax paid on their UK earnings?