Budget 2024: Hunt axes non-dom tax regime

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The non-dom tax set-up for UK residents whose permanent home is overseas will be replaced with new rules from April 2025, the Chancellor said.

It means foreign nationals who live in the UK, but are officially domiciled overseas, will no longer be able to avoid paying UK tax on their overseas income or capital gains.

A "simpler" residency-based system will arrive in 2025.

#jeremyhunt #chancellor #budget

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Yes now his wife hasn't got that status Sunak tells him to cancel it. This should have happened years ago. But he has still left it open to abuse. Do away with it full stop. As normal they talk the talk but leave a loophole.

bunbwre

The arrogance of Hunt and Sunak is mind blowing and obscene, for first time in my 60+years I feel hatred. I have come to loathe the very existence of the Tory’s and the people who back them too.

Jessjoe

Perhaps Akshata would like to pay to the government the £20 million she apparently saved by being a non dom. After all Rishi does bang on about how much they both love the country.

susansantapola

The election will not be a cake walk for Labour. Many many people will be voting for independents or the Green Party. We're all sick of this bluish red theme, their's nothing between them.

robmetcalfe

the rich get richer and the poor stay poor..nothing changed then.

kevinmcintosh

This was the most bizarre announcement.

"We're banning non dom allowance"
"We're replacing it with a non dom allowance....but for 4 years"

TomNook.

Well yes, but also sort of no. He has made a pledge to do something that will only become active when they are out of government. In fact, barely any of the things he announced will start while the tories are in power.

RatluBoogerbag

The people of this country deserve better. Let us pray we never see the likes of such obnoxious Tories in government ever again. They have absolutely no idea what arses they all are.

petercurry

This will be great for house prices in London, as they will drop like a stone when the non Dom's sell up to go elsewhere. Estate agents will also get clobbered as there will no longer be non Dom's coming to the UK to buy these expensive rubbish old properties that need major surgery. The building trades, hairdressers, cooks, butlers, security, drivers, luxury goods shops will also take a dive.

ubaldobezoari

All jokes and laughs. All of them are pathetic. Should have been taking it seriously. Taking this opportunity to take the pi#s out of the opposing party.

stefaniekappes

Wealth leaving UK at a fast pace taking skills and jobs with them and closing companies

angelasheehan

They must have found some other way of avoiding tax

Calgula

Instead of the desperare tories nicking labour's policies why don't they just call and election and hand over the reigns.

TheEnglishCollector

I really disagree with changing the non dom regime, as it is unfair on those who are successful and are just smart enough to study the tax laws

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