Welcome 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 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 leaversI am a British expat living abroad. What should I be thinking about? British expats are typically UK domiciled (“UK dom“) but non-UK resident for UK tax purposes. The extent to which they are likely to be affected by the changes
More about Non-dom analysis: UK returnersI have been UK resident for longer than four years, and am claiming the remittance basis. What should I be thinking about? In his Spring Budget of 6 March 2024, the Chancellor announced material changes to the treatment of UK
More about Non-dom analysis: Year four onwardsHave you filed your 2024 ROE update statement? What do the March 2024 ROE regulations mean for you? If you have real estate in Scotland, are you ready for 1 April 2024? The ROE – one (and a bit) years
More about Update on the register of overseas entities (“ROE”)The law governing Wills in England and Wales is almost 200 years old. It is therefore unsurprising that the Law Commission has been consulting on proposed reforms. Its Wills project (paused in 2019) was picked up again in 2022, with
More about Time for change: Modernising the UK law on willsThe Building Safety Act 2022 (“BSA”) was introduced following the Grenfell Tower fire in 2017 and imposes new legal obligations on landlords of affected buildings to make those buildings safe. This includes replacing dangerous cladding and fixing historical safety defects.
More about The Building Safety Act: Impact on executors, trustees and attorneys