ARTICLE · 15 MARCH 2024

Spring Budget 2024: Non-UK Domiciled Individuals

Price Bailey

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In light of the Spring Budget (6 March 2024) non-UK domicile tax rules will be replaced with a residence-based regime. Updates and comments on the changes will be held within this article.

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Price Bailey LLP

In light of the Spring Budget (6 March 2024) non-UK domicile tax rules will be replaced with a residence-based regime. Updates and comments on the changes will be held within this article. Should you have any questions regarding details within this article, use the form below to contact one of our experts.

[Article updated 7 March 2024.]

What is the difference between domicile and residency?

Domicile has been an intrinsic part of the UK tax legislation for hundreds of years.

Domicile is a concept established in common law which is used in the UK tax system. Every person has a domicile at birth/ of their origin, this then can change due to dependency and choice – but ultimately is where a person sees their home, where their family and economic ties are and where they will return in the future. It is distinct from residency, nationality and citizenship.

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