Budget 2011 implications
Pre Budget speculation meant that the changes announced to the non UK domiciled rules were greeted with an air of resignation. Those who have resided in the UK for 12 or more years will now have to pay £50,000 from April 2012, but its not all bad news for the non-doms.
The main thrust of the Stamp Duty Land Tax (SDLT) changes in the Budget is to block certain known methods of avoidance but there is also some good news for those purchasing multiple dwellings.
Legislation is being introduced to ensure that higher paid employees pay taxes at the appropriate rates.