The Government is to look at the potential implications for the Island of proposed changes to income tax rules in the United Kingdom.

The proposals, which were first signalled by the UK Government last year, include a new approach to determining UK tax residence and changes in the treatment of non-domiciled residents in the UK.

Following a consultation announced in December, HM Revenue & Customs has now published draft legislation.

Treasury Minister Allan Bell (pictured) says his Department has been keeping a close eye on these proposals and are working with the private sector to identify implications for the Island and ways to move forward.

He says they will be raising any issues that are identified with the UK as part of our ongoing dialogue with them over a range of tax issues.’