Some within the UK media have welcomed the closure in the latest Finance Bill of what has been dubbed an 'expat loophole'.
A report in the Observer published on Sunday stated that as part of the Chancellor's crackdown on tax avoidance, UK taxpayers living in Austria, Belgium and Portugal will no longer be able to take advantage of the expedited temporary UK non-resident status afforded to them by bilateral treaties with the United Kingdom.
Previously, UK nationals living in the aforementioned countries would be able to declare themselves temporarily non-resident (and would therefore be able to avoid UK capital gains tax) after just one year, as opposed to the five required of expat Britons living elsewhere.
The newspaper suggested that the closure of the 'loophole' would be worth around £100 million to the Treasury.
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