The ‘cleansing’ opportunity offered to non-doms by the Finance (No.2) Act 2017 potentially allows clean capital comprised within a mixed fund to be accessed in a way which was not previously possible. However, the opportunity is only available until 5 April 2019. Specific criteria apply to its use and it is essential that correct nominations are made. Where a mixed fund includes pre-2008 income and gains, alternative techniques (such as alienation, source-ceasing and non-cash remittances) may still be available to access or create clean capital and these will continue to be available post April 2019.
