Financial Times - Lexiconhttp://lexicon.ft.comTerm of the Day from the Financial Times Lexiconen(PICS-1.1 "http://www.classify.org/safesurf/" L gen true for "http://www.ft.com/" r (SS~~000 1))&copy The Financial Times Ltd 2017 'FT' and 'Financial Times' are trademarks of The Financial Times Ltd. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.client.support@ft.comTue, 16 Jun 2009 01:42:55 +0100Sat, 24 Jun 2017 06:33:27 GMTNewspapers15http://lexicon.ft.comhttp://lexicon.ft.comFinancial Timeshttp://im.media.ft.com/m/img/rss/RSS_Default_Image.gifhttp://lexicon.ft.comnon-domhttp://lexicon.ft.com/Term?term=non-dom<p>A non-domicile or non-dom is a UK resident whose permanent home is a country outside the UK, even though the individual was not born in that country. The person's residence is the country where his or her father was born, meaning it is possible to inherit a non-dom status.</p> <p> </p> <h2>non-dom in the news</h2> <p>In the UK Summer Budgert 2015, the government announced that <a title="Summer Budget: Permanent ‘non-dom’ tax status abolished - FT.com" href="http://www.ft.com/cms/s/0/01051706-257b-11e5-bd83-71cb60e8f08c.html" target="_blank">permanent “non-dom” tax status is to be abolished</a> as part of a crackdown on “fundamental unfairness” in the tax regime for wealthy foreigners, in a move the chancellor hopes will raise £1.5bn over the course of the parliament.</p> <p>The chancellor said that anyone living in Britain for more than 15 years out of 20 years would lose their non-dom status, which gives them the right to keep their offshore profits out of the UK tax net. <span></span></p>Mon, 04 Apr 2016 11:10:09 +0100<p>A non-domicile or non-dom is a UK resident whose permanent home is a country outside the UK, even though the individual was not born in that country. The person's residence is the country where his or her father was born, meaning it is possible to inherit a non-dom status.</p> <p>&nbsp;</p> <h2>non-dom in the news</h2> <p>In the UK Summer Budgert 2015, the government announced that <a title="Summer Budget: Permanent &lsquo;non-dom&rsquo; tax status abolished - FT.com" href="http://www.ft.com/cms/s/0/01051706-257b-11e5-bd83-71cb60e8f08c.html" target="_blank">permanent &ldquo;non-dom&rdquo; tax status is to be abolished</a> as part of a crackdown on &ldquo;fundamental unfairness&rdquo; in the tax regime for wealthy foreigners, in a move the chancellor hopes will raise &pound;1.5bn over the course of the parliament.</p> <p>The chancellor said that anyone living in Britain for more than 15 years out of 20 years would lose their non-dom status, which gives them the right to keep their offshore profits out of the UK tax net.&nbsp;<span>[ref url=""]Vanessa Houlder[/ref]</span></p>