Labour Calls Time On The Remittance Basis

In a speech given at Warwick University, Labour Party leader Ed Miliband has called for "non-dom status" to be "abolished". How likely is such a step? And what would the implications be for those who are currently UK resident but non-UK domiciled?

The Labour proposals, unveiled recently, are short on detail. Ed Miliband has stated that "the non-dom rule" would be abolished by a Labour Government and replaced with the principle that "anyone permanently resident in the UK will pay tax in the same way". It is unclear what Ed Miliband means by "the non-dom rule"; evidently, the intention is to get rid of the remittance basis of taxation, but there is vagueness about whether the special inheritance tax rules for non-UK domiciliaries, and trusts established by them, could also come under fire. In any event, it appears that a Labour Government would allow a special, lenient regime to apply to what Miliband called "real temporary residents, here for a brief period". He has