UK 'non-dom' tax changes 'short on detail': Moore Stephens

The UK announced plans in July to abolish the permanent non-dom status, something a number of shipowners take advantage of. Details of the changes were published yesterday.

Moore Stephens said the document was “short on detail”.

“This lack of clarity does not do enough to reassure high net worth individuals who may be considering leaving the UK. There are very complex issues to be addressed that are simply not covered, or painted in extremely broad brush strokes,” commented Gill Smith, a partner at Moore Stephens.

“The proposed changes impact on numerous areas of the non-dom rules and it is clear these have not all been considered.”