HMRC have recently released several sets of statistics. We summarise some of the key points relating to non-doms, company cars and employee share schemes.
Non-domiciled taxpayers
- The number of newly-arrived Non-domiciled taxpayers increased to 12,900 in 2022-23, up 18% from 2021-22.
- Revenue from non-domiciled taxpayers in 2022-23 stood at around £8.9 billion; £474 million higher than 2021-22.
- Non-domiciled taxpayers using the remittance basis paid £6.452 billion in Income Tax, Capital Gains Tax (CGT) and National Insurance Contributions (NICs) in 2021-22. This increased by £223 million from the previous year.
- 2,400 taxpayers were liable to pay the Remittance Basis Charge in 2021-22. The total Income Tax, CGT, NICs and CGT paid by such individuals was £1.274 billion.
Car benefits
In 2022-23, there were 760,000 recipients of a Company car benefit, an increase of 40,000.
- The total taxable value of those car benefits was £3.6 billion, down from £3.95 billion in 2021-22.
- Around 2% of company cars in 2022-23 had CO2 emissions over 165g/km. This was 58% two decades earlier.
- The average CO2 emissions of company cars in 2022-23 was 71g/km (2021-22: 86g/km).
- In 2022-23, fully electric cars accounted for 29% of company cars, with diesel cars accounting for 23% (having declined from 80% in 2017).
Employee share schemes
In 2022-23, the total number of companies operating tax-advantaged employee shares schemes was 19,990. Of these, 89% operated the Enterprise Management Incentive (EMI) scheme.
- The total value of options granted in 2022-23 was:
- Save As You Earn (SAYE): £1.97 billion (average value: £5,690).
- Share Incentive Plans (SIPs): £1.02 billion (average value: £220).
- EMI: £620 million (average value: £11,910).
- Company Share Options Plans (CSOP): £280 million (average value: £9,130).
- Share options were exercised in 3,370 companies in 2022-23.
- Employees received an estimated £660 million in Income Tax relief and £420 million in NICs relief. This is a decrease of 23% on tax relief from 2021-22.
Useful guides on this topic
Non-domicile status, deemed domicile & tax
Who is non-UK domiciled? What does this mean for UK Income Tax, Capital Gains Tax and Inheritance Tax? What reliefs are available to non-doms?
Remittance basis (overseas income)
What is the remittance basis? Who can claim it and when? What are the advantages of claiming the remittance basis and how much is the remittance basis charge?
Non-Doms & Remittance 2024 Proposals: Client Briefing
It was proposed at Spring Budget 2024 that the non-domicile tax regime and current version of the Remittance Basis will be abolished on 5 April 2025 and replaced with a new regime.
Company cars
Company car tax. How do you work out car benefit? How do you work out car fuel benefit? Are there savings for low-emissions vehicles? How do you reduce car benefit? Cars and the tax tribunals and Top Tax Tips.
CO2 emissions: Ultra-low emission cars from 2019-20 onwards
CO2 emissions bands and percentages that apply to company cars from 2019-20 to 2027-28.
EMI: Enterprise Management Incentive Scheme
What is the Enterprise Management Incentive (EMI) scheme? What's the difference between EMI and an unapproved share scheme?
CSOP: Company Share Option Schemes
What is a Company Share Option Scheme (CSOP)? What are the tax benefits of a CSOP?
External links
HMRC: Non-domiciled taxpayers in the UK
