The Financial Times quotes Sophie Dworetzsky on the potential watering down of Labour’s non-dom tax plans
It has been reported that the Treasury is reconsidering parts of Labour’s manifesto plan for non-domicile tax status over worries that the reforms will bring in less money than expected.
Sophie Dworetzsky, Private Client Partner, says that the government’s inheritance tax proposals in particular were a turn-off for non-doms.
Commenting for the Financial Times, Sophie says:
It’s this absolutely barking 10-year tail on inheritance tax and the fact that existing trusts — that people thought were protected from IHT — aren’t.
If the government moderates its stance on inheritance tax, it could potentially help prevent the exodus of wealthy foreigners with non-domicile status from the UK.
Read the full piece in the Financial Times here.
