Withers, a big international law firm that focuses on very rich private clients, says that despite the UK government's 'clarification' on the taxation of non-domiciled UK residents is a case of "too little too late" with the "damage already done".

"The letter clarifies some areas, and the fact that the new rules will not be applied retrospectively will be a great relief to some non-doms," said Stuart Skeffington, a partner in Withers' wealth planning team. "However, certain key questions are left unanswered and the feeling in the City is that this is too little too late - the damage has ...