Cleansing and rebasing opportunities for non-doms – time to act

A window of opportunity for cleansing and rebasing Those heading for deemed domiciled status have opportunities to protect their assets now through protected trusts, cleansing and rebasing assets. What is a ‘nondom’? A nondom is someone with a foreign (non-UK) domicile. Domicile is a curious concept in English law. It is not the same as tax…

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Budget comment: Mark Davies’ essay in International Investment

        Property Mark Davies is concerned about harsher taxes on property ownership signalled by Finance Act 2018 No. 2. Currently, the UK is a safe place to pay modest income tax, no capital gains tax and no inheritance tax on commercial property. However, Brexit fears are impacting on inward investment to the…

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Autumn Budget 2017 – What does the Budget mean for nondoms and their advisers?

Autumn Budget 2017  Today’s Budget put enormous pressure on the Chancellor to pull something out of the hat, or, at the very least, not to foul up. It was a great day for Maths teachers because over £40 million was committed to their teacher training. The Chancellor was in good spirits and joked “More Maths…

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UK Trusts Registration Service – non-resident trusts need to comply

HM Revenue & Customs (“HMRC”) has announced that the online central register for trusts, the “Trusts Registration Service”, will be launched very shortly. The register has been brought in to assist the UK government comply with the EU’s 5th Money Laundering Directive which came into force on 26 June 2017. Trustees anywhere in the world…

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