Non-Dom? Its about to get a lot more expensive to live in the UK

Non-doms who are UK resident currently pay a fee of £30,000 per annum (the remittance basis charge) in order to benefit from only paying UK tax on funds they bring or remit to the UK.  From April 2012, this charge will increase by two-thirds to £50,000 for those non-doms who have been resident in the UK for 12 or more of the preceding 14 tax years. 

Announced earlier this year, this increase is significant for all but the wealthiest of individuals.  All non-doms resident here should carefully review their tax position each year, to calculate the most efficient tax filing position for them.