“Non-dom” (non-domiciled) residents hit the headlines today (7 April) as it was revealed that Akshata Murty, the wife of Rishi Sunak, the Chancellor, benefits from the status. A non-dom is someone who resides in the UK but doesn’t pay UK tax on their foreign income.
How common are non-doms in Britain? Their prevalence varies based on income. The chances of coming across a non-dom earning less than £100,000 per year are less than 1 per cent. But more than 41 per cent of those earning between £5m-£10m per annum are now or have previously been non-doms.
Similarly, there is a four in ten chance that some earning £10m a year has benefited from the status.