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Comment by graeme

17 days ago

The world has to be dealt with how it is. For example:

>The question is: are they? If not, why not?

Because they're non-domiciled and for several centuries the UK didn't tax foreign income of non domiciled residents. It's not a mystery, it was the law.

The non-dom's came to the UK because of this tax regime. The UK can either have the revenue they get from them, which is substantial. Or, it can remove the non-dom regime, hope they stay, but be prepared for total loss of their revenue if they leave.

There's no magical third choice where everyone in that non-dom category stays just cause and pays more money. So far it looks like UK tax revenues are set to diminish from this change.