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Denoting a person whose country of domicile is not the same as his or her country of residence for tax purposes. Before April 2008 a person resident but not domiciled in the UK paid no UK tax on foreign investment income unless this was remitted to the UK (see remittance basis). From that date so-called non-doms who have been resident in the UK for seven of the last ten years are required to pay a flat annual charge of £30,000 if they wish to avoid paying UK tax on foreign income and gains.

Subjects: Accounting.

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