Bloomberg quotes Dominic Lawrance on the impact of phasing out the non-domicile tax status in the UK
Efforts to push back against at least part of Labour’s proposals to abolish the non-dom regime are set to intensify in the build up to next month's budget.
According to Bloomberg, UK officials met about 40 members of the nation's private wealth community — including almost a dozen non-doms — earlier this month. Several private equity firms have also made their own submissions to the Treasury as the industry seeks to water down proposals.
Dominic Lawrance, Partner, comments for Bloomberg:
Non-doms are a tiny sector of the population, but they are economically significant.
The median investment in the UK of almost 75 non-doms recently surveyed for the research commissioned by Foreign Investors for Britain was between £10 million and £30 million.
Read the full piece in Bloomberg here.
