UK Chancellor Jeremy Hunt considers abolishing "non-dom" tax rules to fund tax cuts for millions of workers.

UK Chancellor Jeremy Hunt considers abolishing "non-dom" tax rules to fund tax cuts for millions of workers in the upcoming budget. The non-dom status allows foreign nationals in the UK to avoid UK tax on overseas income or capital gains, raising an estimated £3.6bn annually. However, critics argue that abolishing this status could drive wealthy foreigners away and negatively impact the economy.

February 28, 2024
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