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Further consultation on taxation of non-domiciles

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The government is consulting until 20 October 2016 on draft legislation intended for inclusion in Finance Bill 2017, which will:

·         introduce deemed-domicile rules for income tax and CGT;

·         amend the deemed-domicile rule for IHT;

·         extend IHT to UK residential property owned by non-domiciles; and

·         provide protection for non-resident trusts set up before the settlor became deemed-domiciled in the UK.

These changes are expected come into effect from 6 April 2017.

The consultation also seeks views on how business investment relief for remittance basis taxpayers might be expanded.

HM Treasury consulted on the deemed-domicile rules for income tax and CGT in September 2015 and for IHT in December 2015. Responses to those consultations are also covered in this document.


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