In his 2014 Autumn Statement, Chancellor George Osborne announced an increase in annual charges for non-dom residents who have lived in the UK for more than 12 years.

Those who have lived in the UK for 12 of the past 14 years will have to pay £60,000 to retain non-domiciled tax status.  There will also be a new charge of £90,000 for those who have been resident for 17 years.

The increase is predicted to generate an extra £120m for the Treasury in 2016-17.

This entry was posted on Wednesday, 10th December 2014 at 1:22 pm and is filed under Budget News, Non Doms. You can follow any responses to this entry through the RSS 2.0 feed.

Tags: budget, domicile, non dom, resident, Tax