After months of uncertainty, the government have confirmed that the previously announced changes to the taxation of non UK domiciled individuals WILL come in now as previously announced and will take effect from 6 April 2017.
The government significantly edited the Finance Bill 2017 to ensure that it was passed before parliament was dissolved ahead of rush election earlier this year. This included the removal of the contentious changes to the Taxation of non-UK domiciled individuals and non-UK resident trusts, which included:
Updated legislation has now been published. We are currently in the process of reviewing the new updated draft provisions although on first glance it seems as though they are the same as had previously been issued. This means that any planning put into place ahead of the changes coming in should be valid.
If you have any specific queries please contact your usual Forbes Dawson contact.
You can use this form to request us to give you a call or if you prefer just leave us a message. Please be sure to leave us a contact number or email address for you and we will get back to you as soon as we can.