| Hidden penalty in new non-doms rules |
|
|
| Friday, 07 December 2007 | |
|
The Chartered Institute of Taxation (CIOT) believes more attention needs to be given to an additional measure that seems to have been missed by many commentators on the new consultation on the tax rules relating to non-domiciliaries.
The ‘Disqualification from Parliament (Taxation Status) Bill’, published on Thursday, is a single-clause bill that proposes that those electing for the non-domiciled remittance basis of taxation will be disqualified from acting as an MP or Member of the House of Lords. John Whiting, Chairman of the CIOT’s Management of Taxes Committee, says that he can understand the driving force at work here but that there is also an important matter of tax principle. “A taxpayer will, under the proposed non-domiciled rules, be given an option over two bases of taxation. Yet someone choosing one route is, seemingly, to be handed an extra penalty. It does seem a bad precedent if making what might be regarded as the wrong tax choice attracts adverse treatment in another area,” Whiting adds. Related articles Related links |
Subscribe to our weekly newsletter for top jobs, news and more
Digg it!
Post to del.ico.us
Seed in Newsvine
Post to Reddit
Post to Furl
Post to technorati
