On the basis that non residents don't vote, how come neither party has sought seriously to tax non resIdents?
A couple of ideas
1] Charge CGT on ALL property sales, even those made by non-residents. Collect by withholding sale proceeds.
2] Continue to charge all British passport holders , [or those who have been UK resident in 9 out of the previous 11 years] on their world wide income, either indefinitely [as does the USA] or for 10 years after they cease to be non resident. Those who live in and PAY TAXES LOCALLY MAY BE EXEMPT on some income under DTA's.
3] We already do this for IHT for UK dom's wherever resident.
Montrose
Replies (2)
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What about taxing UK resident non-doms like the rest of us? Don't know how much is raised by the remittance basis charge but I suspect less than a "normal" taxing basis.
I agree
We really should do as much as possible to discourage inward investment and we really do not want wealthy foreign entrepreneurs coming here and, heaven forbid, living here and paying lots of VAT.