Labour's 'Fair Tax Programme' - A Second Sting In The Tail

The Labour party’s election manifesto and its accompanying ‘Funding Real Change’ report promise dramatic increases in taxation to fund a series of ambitious spending pledges, as detailed in our previous article on the topic. On Saturday 23 November, with a lot less fanfare than had accompanied the publication of its manifesto, the party published yet further taxation policies in the form of its ‘Fair Tax Programme’. Many of the proposals contained therein are likely to prove unappetising to foreign investors in the UK, as well as those individuals who live and work across jurisdictions.

The first of these policies is the scrapping of non-domicile status. John McDonnell had previously been reported saying that his intention was to do away with non-domicile status completely, bringing remittance basis users into the scope of UK taxation on their worldwide income. While a previous statement had been made to the effect that temporary residents might still be allowed to