Although the non-dom regime has now been abolished, income and gains sheltered from UK tax under the remittance basis of taxation (“RB”) remain taxable if remitted to the UK. However, between 6 April 2025 until 5 April 2028 there is an amnesty where these funds may be remitted to the UK at a reduced rate…
DetailsAgainst a backdrop of global economic uncertainty and increased borrowing costs, Chancellor Rachel Reeves delivered her Spring Statement for 2025 today as she attempts to navigate the balance between long-term responsibility and meeting the immediate needs of the country. As expected, no major tax changes were announced. This may come as a welcome relief for…
DetailsToday, Rachel Reeves delivered her long-awaited maiden Budget speech. The speech began with a strong emphasis on restoring stability and driving growth and investment into the country, whilst reminding us of the well discussed ‘black holes’ to plug and tough choices on taxes to make, subjects which had led to rife speculation and rumours ahead…
DetailsThe Labour party has been promising to impose VAT on private school fees for some time and it looks as though this threat is about to be realised. We understand that the change will be implemented relatively quickly (indeed it could be as soon as the first budget, likely to take place in September), possibly…
DetailsDespite rising anticipation in the press over the last week or two, today’s Autumn Statement appears to have delivered very little of note for our clients and their advisers, as Jeremy Hunt and Rishi Sunak avoided the temptation to please voters with any significant changes, such as the abolition of inheritance tax or cutting of…
DetailsPortugal announces end of NHR Tax regime Last week, António Costa stated in an interview that he intends to phase-out the highly beneficial NHR tax regime by 2024. But, for now, there is good news, individuals who have registered for the scheme before 2024 will be able to continue to benefit for the foreseeable future.…
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