“Philip Hammond is facing a backbench rebellion over a £6billion tax loophole for foreign non-dom property owners.
They must pay tax on residential property sales but the government is not including profits made on commercial buildings.
It means that foreign owners can declare their flats and houses in Britain are for commercial use before they sell them- meaning they don’t have to pay a levy, reports The Sun.
The omission has created a loophole worth approximately £6billion that is set to spark a Commons showdown, according to campaigners.
Mr Hammond is now facing a rebellion from a cross-party coalition of Conservative, Labour, Liberal Democrat and SNP MPs when the Finance Bill is put to a vote on Tuesday.
Labour MP Stella Creasy said: ‘Why should British businesses have to pay this tax but foreign ones get away with it? …”