Elite group of British-born residents enjoy 'non-dom' tax haven

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At least 800 British-born United Kingdom residents enjoy "non-domiciled" status, a tax break intended for temporary residents, according to data released in response to a Freedom of Information Act request by Reuters.


Since 2008, the number of British-born non-doms has remained within a range of between 780 to 840 people, HMRC said.


All other British residents pay tax on worldwide income, no matter where they make it, and critics of the non-dom system say it is unfair to allow a small group of mainly very wealthy individuals shelter some of their earnings from tax.


The issue rose to the top of the political agenda in Britain ahead of the May 7 election, after the opposition Labour party said it wanted to abolish the system.


However, the ruling Conservative party beat Labour and a finance ministry spokeswoman said there were no plans at present to amend the scheme, which its supporters say helps attract foreign investment and talent into Britain.


No public record of who has non-dom status is maintained, but British-born people who have said they held the non-dom status include former racing driver Jackie Stewart and Chief Executive of HSBC bank Stuart Gulliver.




Elite group of British-born residents enjoy 'non-dom' tax haven | Reuters