The consultation period for the reforms to the taxation of non-domiciles is simply too short, according to the Institute’s Northern Ireland Tax Committee.

The committee recently responded recently to the consultation “Reforms to the taxation of non-domiciles” focusing on the key areas of fairness, simplification and double taxation. A recommendation to extend the availability of business investment relief to foreign income and gains of those deemed domicile under the proposals was also made.

Overall, there are many complex issues that arise as a result of the proposals in the consultation document. Not the least of these are issues such as retroactivity, transitional provisions, grandfathering, and interaction with existing tax rules.

Given the extent, complexity and potential impact of these changes, the decision to reduce the consultation period is disappointing.

You can read the committee’s response here.