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Pursuit of high earners 'very damaging' to tax planning
The continued pursuit of high earners concerning their UK personal income tax status could be "very damaging" for the UK economy, it has been claimed.
Speaking to the Times, head of tax at law firm Squire, Sanders & Dempsey Peter Vaines warned that the UK's tax system is wreaking havoc on personal tax planning.
He told the newspaper: "An awful lot of people come to work here on a temporary basis thinking they've got three years [before they have to pay tax on the whole of their worldwide income].
"Now the taxman is saying that if you come to work here you are an ordinary resident and immediately liable to tax on everything, rather than being taxed only on UK earnings."
The comments follow a ruling at the court of appeal, which upheld the right of HM Revenue & Customs to tax businessman Robert Gaines-Cooper who has lived in the Seychelles since 1976.
Posted by Brian de Selby
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