Announcements were made in Spring 2024 to reform the UK taxation of individuals and offshore trust structures. The overarching theme of the proposal is to remove domicile as a connecting factor to UK tax.
We are continuing to monitor the evolving landscape, please see below for an overview of the potential changes impacting UK resident non-domiciliaries. We also provided additional commentary and opinion about the non-dom reforms following the publication of the Conservative and Labour manifestos.
The tax legislation involving overseas income and gains can be very different to that applicable for UK income and gains. Foreign tax may be applicable or a double tax treaty may limit a country’s right to tax.
Anti-avoidance legislation needs to be considered for UK residents with certain offshore interests or where an individual moves abroad temporarily. Even determining if you are UK resident is not necessarily straightforward if you are overseas but wish to spend time in the UK.
It’s all about you
We offer UK tax advice that is completely designed around you, whether you’re an expat living overseas or are living in the UK receiving overseas income or gains.
We’ll ask the right questions, we’ll listen and work with you to fully understand your circumstances, considering your background, your wealth, your ambitions and where you live, so that we can give you fully tailored advice that is just for you.