|Leading Professional Contributors|
Tom Elliott, Crowe Clark Whitehill
Non-doms face up to 90 percent income tax? Surely some mistake!
Many in the private client world will be aware of the significant changes to the UK taxation regime applying to Resident Non-Domiciled (RND) individuals introduced in 2008. Not only did these changes bring in a new annual cost for RNDs (the Remittance Basis Charge of £30,000 for long-term residents followed by introduction of the higher charge of £50,000 in 2010), the new law extended the definition of what constitutes a remittance - in other words, when money is deemed to have been brought to or enjoyed in the UK.
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