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…
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…
DetailsLeaving the UK? Here are 10 things to think about before you do. Life is never certain, and as seen last week in the Spring Budget 2024, neither are taxes. The Spring Budget announced new proposals that will change how a non-UK domiciled individual will be taxed in the UK and, as a result, you…
DetailsSpring Budget – Taxation no longer determined by domicile; what does that mean for you? Today was possibly this Government’s last chance to make a notable change to UK taxpayers’ finances before the UK heads to the poll stations later this year. Undoubtedly, the pressure was on as the polls and recent by-election results predict…
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…
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