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ARTICLE · 13 JANUARY 2012

Non-Domiciled Individuals: The Finance Bill 2012

Wedlake Bell LLP
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On 6 December 2011 draft legislation for the Finance Bill 2012 was published containing a number of measures of interest for non-domiciled private clients and those visiting, coming to or leaving the UK.

United KingdomStrategy
Emma Loveday
Emma Loveday

On 6 December 2011 draft legislation for the Finance Bill 2012 was published containing a number of measures of interest for non-domiciled private clients and those visiting, coming to or leaving the UK :-

1. Non-UK domiciled individuals

1.1 Business Investment

The Government is introducing measures to encourage business investment.

Resident non-domiciliaries will from 6 April 2012 be able to remit their overseas income and capital gains to invest in UK trading companies without an immediate charge to UK income or capital gains tax on the remittance of the funds to the UK. These rules will permit funds to be brought into the UK to invest in shares in, or loans to, UK trading companies (including companies engaged in the development or letting of commercial property). Eligible companies will be those not listed on a recognised stock exchange. It appears that investment in an AIM listed company will qualify so long as it meets the trading conditions. There will

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