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Legal community slams Budget's non-doms policy

Budget - non-doms For clients perhaps the most significant statement is that there will be no further changes to the residence and domicile rules for the life of this Parliament and the next. The way in which the Government has changed, dithered and backtracked on its proposals has resulted in clients wasting professional fees trying to keep up and rearrange their affairs in an unacceptably short timescale. This reassuring message in respect of the future stability of the tax system should go a long way towards repairing the damage and encouraging non-domiciles to come to or remain in this country. We have still to see the legislative detail on the changes but the announcements are encouraging and should be significant enough to continue to make London and the UK a destination of choice for wealthy foreigners provided that they are properly professionally advised.

12-Mar-2008

4:47 pm