Globally Speaking – February 2026

After several years of turbulence, the UK’s economic and political landscape is showing signs of stabilising. While uncertainties remain and policy developments continue, markets have steadied, the direction of travel on key reforms is becoming clearer, and the pace of change — though still active — feels more manageable for internationally mobile individuals and families. For many global private clients, this has created an environment that is more conducive to forward planning, whether in relation to investment, family wealth structuring or developing long‑term UK connections.

Against this backdrop, our international private client team has been helping clients reassess cross‑border estate plans, evaluate their UK footprint, and identify both the opportunities and challenges presented by this evolving landscape. In this edition, we explore the developments influencing the year ahead and some points individuals, families, trustees, family offices, and other advisers may need to consider as the UK adjusts to a steadier — yet still shifting — phase.

In this issue

• Considering investing in a prime residential property in England? Here’s what you need to know about Stamp Duty Land Tax and the new High Value Council Tax Surcharge — from April 2028, the new High Value Council Tax Surcharge (mansion tax) will apply to properties valued at £2m+, adding £2,500–£7,500 a year depending on value. This sits alongside existing SDLT rules, which continue to impose higher rates for additional homes and non UK residents. For overseas and buy to let investors, the combined impact of these can affect returns, ownership structures and budgeting — especially where mixed use property rules or refund opportunities may apply.
• Urgent travel warning for British dual nationals — from 25 February 2026, the UK’s tightened Electronic Travel Authorisation (ETA) rules mean British dual nationals must travel with a UK or Irish passport, or a foreign passport containing a Certificate of Entitlement, to avoid being refused boarding. Travelling on your non‑UK passport could trigger an ETA check you cannot satisfy.
• Understanding Zakat: obligatory charity giving in Islam — as Ramadan approaches, many Muslims are preparing to calculate and give Zakat — a core pillar of Islam that combines spiritual discipline with social responsibility. For UK based individuals with complex assets, trusts or cross border wealth, understanding how Zakat obligations sit alongside UK tax and estate planning can be less straightforward.
• Capping inheritance trust charges for excluded property trusts revisited — draft legislation has now confirmed how the UK’s April 2025 “non dom” reforms will impact formerly “excluded property trusts”, including a new £5 million cap on ten year and exit charges for qualifying trusts. While welcome, the cap will only assist the very largest structures and comes with strict conditions, planning considerations and anti avoidance traps.

Jurisdiction Focus: The United States of America

The UK has become an increasingly popular jurisdiction over the last couple of years as a “comparatively stable destination” for US individuals looking for political predictability, legal certainty and economic resilience. Alongside political stability, our strong cultural ties, language alignment, world‑class education and global business hubs draw many Americans to the UK — but these same individuals must ensure their US structures, investments and estate plans will work efficiently once they cross into the UK’s very different tax and legal systems.

Wedlake Bell acts for globally mobile US individuals and families on the full spectrum of UK tax, estate planning, immigration and structuring issues arising before, during and after a move to the UK. We work closely with leading US advisers to provide coordinated, technically robust and practical solutions, locally.

However, with the UK’s tax landscape continuing to evolve, it remains an attractive but technically complex destination. In our recent article, we break down the essential UK planning considerations for Americans in 2026. Read more here.

This article is for general information purposes only and does not constitute legal advice or a comprehensive statement of the law. Specific legal advice should always be sought in relation to individual circumstances.

Meet the team:

1. 

   • Matthew Braithwaite

   • Partner
   • Private Client

   Visit Matt's profile

View the whole team