• Tax changes for non-UK domiciliaries

Tax changes for non-UK domiciliaries

14 September 2016

Mark Savage , Tax Director |
John Bradley , Tax Director |
André Trebert , Executive Director |

The Government has announced further proposals as part of its reforms affecting long term UK resident non-doms from 6 April 2017.

This update covers the following proposals:

  • The new deemed domicile 15/20 years rule
  • A rebasing election for offshore assets for individuals who become deemed UK domiciled on 6 April 2017 under the 15/20 rule
  • A grace period to unravel offshore mixed fund bank accounts
  • Proposals to charge UK inheritance tax on UK residential property held indirectly through an offshore entity
  • Reforms for offshore trusts
  • Proposals to make Business Investment Relief more accessible