Budget attack is watered down

By Tom Edwards

ALISTAIR DARLING’S first Budget has been described by local tax experts as a ‘watered down attack on non-doms’.

They said the Chancellor had backtracked in his speech in the Commons yesterday. But while it may have contained few surprises, Fortis Reads Private Clients director Paul Schreibke warned that islanders could fall foul of changes to UK residence rules.

‘To be classed as a UK resident for tax purposes, an individual has to spend more than 183 days there in any tax year and no more than 90 days on average over a four-year period. Previously days of arrival and departure were not counted, but from 6 April a day will be counted based on an overnight stay.’

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