Globally Speaking – UK Budget Update

The UK Budget delivered on 26 November 2025 introduced a series of targeted measures for internationally mobile, UK‑connected individuals and families with cross‑border wealth, but do not represent the sweeping tax reforms that had been predicted.

The Budget is arguably more significant for what was not included: there was no capital gains tax (CGT) exit charge for individuals leaving the UK, and no new wealth taxes beyond the new high‑value council tax surcharge. These omissions will come as a relief to those concerned about the potential impact on mobility and investment.

The new tax regime affecting “non‑doms” and which came into force from 6 April 2025 remains in place, despite ongoing criticism that the rules risk driving talent and capital away from the UK. However, industry feedback was perhaps acknowledged by the announcement of some limited concessions to the regime. There were also some minor technical adjustments as to how the regime operates in practice. For clients with complex international structures, as always careful planning remains essential in a shifting tax environment.

Following the Budget announcements, this edition of Globally Speaking provides guidance for those advising globally mobile families, managing cross-border wealth, or planning for generational transitions.

Click here to read more.

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.

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   • Matthew Braithwaite

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