George Merrylees
- Partner
- Private Client
Partner authors article on the limited uptake of the temporary repatriation facility
Private Client Partner George Merrylees has written an article for FT Adviser exploring why the temporary repatriation facility (TRF) has, so far, failed to deliver on its intended impact.
The article explains how the TRF was designed as a relatively straightforward and generous mechanism to allow taxpayers to bring foreign income and gains into the UK without the complexity of the previous remittance basis rules. Despite this, uptake has been limited.
George explores the reasons behind this, noting that while the TRF itself is not complex and offers favourable rates and flexibility, broader economic and political uncertainty has led many eligible individuals to adopt a cautious approach. In some cases, individuals have left the UK following wider non-dom reforms, while others are delaying decisions given the time available to make claims under the regime.
Read the full article in FT Adviser here [£].
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