Chancellor could be willing to alter non-dom plans, report suggests
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. A Treasury spokesperson called the report “speculation, not Government policy” and pledged to remove “the outdated non-dom tax regime”. According to the Guardian report, there are concerns that the OBR forecast would predict the policy could cost the Government money due to non-doms limiting their time in the UK. “That is why we are removing the outdated non-dom tax regime and replacing it with a new internationally competitive residence-based regime focused on attracting the best talent and investment to the UK.” A costings document in June said Labour planned to raise billions by closing the “non-dom loophole” for wealthy foreigners living in the UK and cracking down on tax avoidance. Earlier on Thursday, former Bank of England chief economist Andy Haldane told LBC he would be “a bit careful” about not discouraging money for growth.
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