GENERAL ELECTION – TAX POLICY This week, we have had the publication by the Conservative and Labour parties of their manifestos ahead of the general election on 4 July 2024. In this month’s Private Client Legal Update, we summarise what
More about Private Client Legal Update – June 2024Some key highlights of legal updates affecting the Private Client industry over the past month are as follows. Tax – new tax year changes The tax changes to note that came into effect for the new tax year 2024/25 are
More about Private Client Legal Update – April 2024Please note that this article was published before the non-dom legislation was finalised and brought into force on 6 April 2025. Although rumours abounded in the two weeks leading up to the Chancellor’s Spring Budget speech on 6 March 2024
More about Non-dom analysis: A political budgetWhat was announced by the Chancellor in the Spring Budget on 6 March 2024 were wide-ranging reforms to the UK’s tax regime for non-UK domiciled (“non-dom“) individuals (“non-dom regime“). This article provides an overview of the measures announced; for a
More about Non-dom analysis: Overview of reformsWelcome to the March 2024 special edition of our international e-bulletin for private client, family office and trustee clients and contacts. Although rumours abounded in the two weeks leading up to the Chancellor’s Spring Budget speech on 6 March 2024
More about Globally Speaking: Welcome from the editorHow are the IHT rules changing? In the Spring Budget on 6 March 2024, the Conservative government proposed a residence-based test for IHT – as opposed to one based on domicile – which arguably provides greater clarity for those trying
More about Non-dom analysis: Inheritance tax (“IHT”)I am planning to move to the UK – how will the new residence-based exemption rules apply to me and is there anything I need to do before moving? It is important to bear in mind that the changes announced
More about Non-dom analysis: Pre-arrivalI am a recent arriver in the UK. Will the new exemption regime apply to me? In the 2024 Spring Budget on 6 March 2024, the Chancellor announced that the current remittance rules applying to UK resident, non-domiciled individuals (“non-doms“)
More about Non-dom analysis: The first four yearsAre offshore trusts still efficient for UK income tax and capital gains tax? In this article we consider how the 2024 Spring Budget announcements are likely to impact offshore trusts settled by: What are the proposed changes from 6 April
More about Non-dom analysis: TrustsI am UK resident but non-UK domiciled (“RND″) and have been in the UK for longer than ten years. Should I stay or should I go? Income and capital gains RNDs who have been resident in the UK longer than
More about Non-dom analysis: UK leavers