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Private Equity Boss Fires Tax Salvo Across UK Government's Bows

Tags: capital-gains, iref, non-dom on 2008-03-22 -All Annotations (0) -About

in list: iref-uk

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FT.com | Maverecon: They'd none of them be missed?

The main indirect effect of the proposed increase in taxes on the non-doms (if they were to leave and not spend as occasional or even regular visitors as much as they now spend as residents) is through their consumption of non-traded goods and services, including charitable giving – a form of conspicuous consumption unless it is double-blind. The demand for magnums of 1961 Petrus (at £18,000 a bottle) would suffer. So would a few luxury shops, restaurants and studs. Upper bracket property prices in London and the home counties would fall. With a bit of luck, the fall in property prices would spread more widely.

Tags: iref, non-dom, tax-competition on 2008-02-14 -All Annotations (0) -About

in list: iref-uk

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