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Tax avoidance to stimulate investment to help the economy is to me more useful than non Dom tax avoidance on personal assets that sit in property/bank accounts.
One, if audited and tuned properly, creates jobs. The other just puts more £ in the pockets of one person.
JWestland-
Tax avoidance to stimulate investment to help the economy is to me more useful than non Dom tax avoidance on personal assets that sit in property/bank accounts. One, if audited and tuned properly, creates jobs. The other just puts more £ in the pockets of one person.
I don't know how you can say that with such certainty.
The pro case for non-dom is that it brings people to live and work (partly) in the UK that otherwise would not be incentivised to as they would drag all of their global assets into the UK tax net. I don't think it's a particularly strong argument, but then I also think there's a load of tax-advantaged investment that doesn't stimulate the real economy.
NickCJ
Which goes back to my point that it's a sub-set of avoidance and people are generally in favour/against based on their own personal biases.
E.g. Non-dom = bad because I'm not a rich foreigner with a load of assets outside of the UK
SEIS = good because I'm helping a fledgling business, and anyway why shouldn't I reduce my income tax a little bit as I work really hard, and you know what I should be rewarded for taking the a risk so 0% CGT on exit is fair, regardless of how big a multiplier that could be.