Final Response To Non-Dom Consultation Published

Summary

The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with some draft legislation that will take effect from 6 April 2017. As well as the expected changes, some significant new changes were announced concerning offshore trusts, which did not feature in the government's previous public consultation documents. Affected individuals should seek advice urgently to allow enough time to act before the reforms come into force.

In Depth

There is mixed news for affected individuals, including far-reaching changes relating to offshore trusts and a further wait (possibly until March 2017) for the rest of the draft legislation.