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Womb tax planning
Is your wife pregnant, schedule the birth perhaps in Geneva for your return to the UK a week later?
IHT
It's the IHT aspect that is most worrying.
If you live here then being taxed on your worldwide income and gains, less taxes already paid elsewhere, doesn't seem too harsh- as long as it's applied equally to everyone who resides here. Having different rules for different classes of non-doms makes no sense.
They should simplify tax and get rid of the entire concept of domicile from UK taxation, then bring in rules to deal with the situations described above so that over time people who choose to live here permanently are taxed on more and more of their worldwide assets on death.
Choosing to live here should have the same benefits and obligations on everyone (subject to transitional periods).
What is this going to cost to
adminster and what is the likely yield - not HMRC's figure because as we know from other figures they can not be trusted.
What is the real cost to the country, bearing in find that this will affect very weathy people and if they leave the UK we will get nothing ie no taxes, whereas as present we get all the indirect taxes and some income tax charge (through dividends and UK income plus a non-doms tax charge.
Complex, tricky topic someones going to make money out of it
'and adding a layer of complexity to an already tricky topic.'
Complex, tricky, layered, my gosh all the ingredients that add up to aggressive tax avoidance schemes, at last HMRC has woken up to it, or some of it.
HMR&Customs
Stop all the added complexity.Just answer the phones and letters! THATS ALL YOU NEED TO DO!
new rules for non doms
If people were truly professional / dealing with the law/tax is their life/
just like a surgeon [ we do not hear them moan about transplants should be avoided just because of the complications]
It is about time HMRC showed up at the table of " i live here but do not wish to pay the bill"
A rough estimate on what a UK passport is worth to those with money ? £1m +