Quote:
Originally Posted by roly
i get where you're coming from. the trouble is that it's a very slippery slope to have one rule for the rich and another for everyone else. from what i've read, removing it would make a very minimal amount for the economy - just a few hundred million - as some would move away. however there would be a level playing field for everyone. also i'm not talking about genuine non-doms that are just based here for a couple of years, i'm talking abolut people that are permanently based here and just use this rule to dodge paying tax.
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Make no mistake the majority of people on non dom are here because of the tax situation. You remove it and 90% are gone. You may say GREAT leave the UK we want a level playing field and they can leave if they aren't going to pay tax. But those same people are buying million pound homes, spending big dollars in restaurants and stores. Remove them from the economy and watch the unemployment rate sore and the establishments throughout the core of london struggle and maybe even shut down.
I agree Non doms do not contribute their fair share if you are comparing contribution as a percentage of wealth/income. But I would venture to say the average non dom contributes double what the average person contributes to the UK economy as a whole (tax plus economical benefit for the UK).