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Domicile vs. Non-Domicile
By Jenn Trap on 2010-03-18 10:36:48
A competition between two men who both live in the United Kingdom. The problem is that one is considered domicile and pays the taxes in the UK, and the other is considered non-domicile and does not pay the UK taxes.
Both men are entrepreneurs, tycoon's and friends as well. It's just that Duncan pays taxes on all of his health clubs, and James is just now venturing into the health club business and is tax free. So, Duncan is asking for a change in the law.
He feels that all residents, domicile or non-domicile should have to pay taxes on their earnings because it is a duty to the United Kingdom. Unless of course, they can prove that they are paying taxes that are equivalent somewhere else in the world.
Both men are entrepreneurs, tycoon's and friends as well. It's just that Duncan pays taxes on all of his health clubs, and James is just now venturing into the health club business and is tax free. So, Duncan is asking for a change in the law.
He feels that all residents, domicile or non-domicile should have to pay taxes on their earnings because it is a duty to the United Kingdom. Unless of course, they can prove that they are paying taxes that are equivalent somewhere else in the world.
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