Non-Doms Contribute Billions to the UK

September 1, 2017 Taxation in UK

Non-dom taxation UKLONDON – Non-doms in the UK are contributing billions in taxes each year, potentially to the surprise of many UK citizens.

New data released by the UK HM Revenue and Customs has shown that non-domiciled individuals in the UK are paying more than GBP 9 in taxes each year.

Under current UK law, some individuals who are residents in the UK but claim to have a permanent home outside the UK are able to enjoy some selected breaks on their non-UK incomes, unless their funds are moved to the UK.

The subject of the taxation of non-doms is a controversial one, and has been debated heatedly by politicians and the public.

However, UK tax authorities have now revealed that these taxpayers actually contribute much more to the national coffers than previously thought.

Over the course of 2014-15, non-doms paid a total of GBP 9.3 billion in income tax, national insurance contributions, and capital gains taxes.

There was a total of 121 300 non-doms in that period, who paid an average of GBP 105 000 in taxes each.

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