10 implications of the UK General Election result for non-doms
13 May 15
The Conservative Party’s surprise majority victory in the UK General Election will allow the new government to press ahead with its promise to make greater efforts to counter tax avoidance and evasion. Here are 10 points that highlight what this means for those claiming non-domicile tax status.
5. Replacing the LDF
At present, the Lichtenstein Disclosure Facility (LDF) gives people a way out if they want to become compliant. The current facility is being closed, but what it will be replaced with, will not be so generous. This can be counterproductive, as the more penal the regime, the more impetus there is to either ignore the problem or leave the country.
Tags: Non Doms | Tax Avoidance
