The government has announced that the taxation of non-domiciled persons (“non-doms”) will be reformed from 6th April 2017. Following this non-dom reform in April foreign domiciliaries who have been UK resident for 15 out of the previous 20 tax years will become deemed UK domiciled for all taxes. Non-doms who are deemed UK domiciled will no…
DetailsPlans to go ahead with a new “deemed domicile” category for non-domiciled individuals who have been resident in the UK for 15 of the past 20 tax years, or if they were born in the UK with a UK domicile of origin, beginning next April, were confirmed today by UK chancellor Philip Hammond, with the publication of…
DetailsNon-dom Reform – Autumn Budget Statement 2016 The Chancellor, the Rt. Hon Phillip Hammond, confirmed today that the proposed reforms to the taxation of UK resident non-domiciled individuals will go ahead in April 2017 as intended. This was revealed in today’s Autumn Budget Statement 2016 from HMRC although the Chancellor refrained from commenting on it in…
DetailsMark Davies will be speaking at Belluzzo & Partners Workshop: ‘UK-Italy Cross-Border Tax & Legal Update 2016’ on Monday 12th December starting at 5.00pm. He will be speaking on the Changes to UK Resident Non Domiciled Individuals Taxation Regime. For more information or to register for this event click here.
DetailsThe UK Government is expected to pull back significantly from proposed changes to the way the offshore trusts of “non-dom” UK residents are taxed, in response to warnings that they could send wealthy foreigners fleeing. For the moment, the Treasury hasn’t issued a statement on the matter. However, industry sources have reported that a re-think…
DetailsMark Davies comment’s have been published in the Financial Times online. Click here to read the article on the Financial Times website or continue reading below. Lawyers prepare for deluge of UK non-dom tax work Advisers told to limit holidays before rule changes next year Scores of lawyers and trust experts have been told to limit…
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