ARTICLE · 22 AUGUST 2016

Non-Dom Reforms To Go Ahead

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The government released a further consultation document on Friday 18th August 2016 in which they confirm that they will press ahead with the proposed changes to the taxation of non-domiciled individuals.

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The government released a further consultation document on Friday 18th August 2016 in which they confirm that they will press ahead with the proposed changes to the taxation of non-domiciled individuals announced at Summer Budget 2015. The document also provides further details on the proposals set out in the September 2015 consultation document.

The key areas are:

The proposals to bring within the scope of inheritance tax (IHT) UK residential property owned by overseas structures
The reforms to the taxation of non-domiciled individuals who are long-term UK residents, i.e. those who have been resident in the UK for 15 out for the past 20 years
The taxation of offshore trusts settled before an individual becomes deemed UK domiciled

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