England's PM, David Cameron has taken a stand and has shown that he wants more tax cuts for the middle-class segment during the upcoming budget. It comes at a time when the government is thinking of having a fresh crackdown on the non-doms.
And if that happens, then in most probability the existing levy is going to be extended during this budget as well.
It was started in 2008, when the then Labor party government introduced an annual charge of £30,000 for non-dome. The ones who have been residing in England for the past 7 years or more are the ones that are considered to be non-doms. They, however, are not domiciled and that gives them a chance of avoiding taxes.
So, it means that while these non-doms have been using foreign currency of UK, they have not been paying back enough.
In opposition to this move, Chancellor George Osborne had proposed that a levy of £25,000 should be imposed on all non-doms, immaterial of the time that they had spent in the country.
One of sources inside the Treasury also warned about the effects of higher levy on Britain's competitiveness.