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📢 Major Tax Shake-Up: What Non-Doms Need to Know

Matt Bird, tax partner at Sayers Butterworth, recently joined the London Property Podcast to break down the sweeping changes to the UK’s Non-Domiciled (Non-Dom) tax status, which end on April 6, 2025.

🔹 Non-Dom Status Abolished – UK residents now taxed on worldwide income and capital gains.
🔹 No More Remittance Basis Charge – Previously £30,000 to £90,000, now scrapped.
🔹 Protected Trusts Removed – Offshore structures now exposed to UK tax.
🔹 Flat 12% Tax – Applies to remitted untaxed income.
🔹 Inheritance Tax Impact – After 10 years in the UK, worldwide assets now subject to 40% IHT, driving many to relocate.

💡 What’s Next?
Many Non-Doms are leaving the UK for tax-friendly destinations like Dubai, Italy, and Singapore. Those staying must rethink tax planning strategies to remain compliant and efficient.

📌 Key Actions for Non-Doms & Investors:
✅ Plan Ahead – Pre-arrival tax planning is now crucial.
✅ Review Past Advice – Many old tax strategies no longer work.
✅ Explore Double Tax Agreements – Some may still avoid UK tax residency with careful structuring.

🔎 Need Expert Guidance?
Get in touch with professionals who understand the evolving landscape and can help you navigate the changes effectively.

#UKTax #NonDom #WealthManagement #LondonProperty #TaxPlanning #LuxuryInvestment

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