Detail of outcome
This consultation response sets out the detail of the legislation to deliver the reforms to the taxation of non-domiciles announced at Summer Budget 2015.
This consultation ran from to
Seeking views on legislating the announcements made at Summer Budget 2015 on reforms to the taxation of non-domiciles.
At the Summer Budget 2015, the government announced a series of reforms to the way that individuals with a foreign domicile (‘non-doms’) are taxed in the UK. These changes will bring an end to permanent non-dom status for tax purposes and mean that non-doms can no longer escape a UK inheritance tax (IHT) charge on UK residential property through use of an offshore structure like a company or a trust.
At the Autumn Statement 2015, the government made a further announcement that it would consult on how to change the Business Investment Relief rules to encourage greater investment into UK businesses.
A consultation was published in September 2015 setting out the detail of the proposals to deem certain non-doms to be UK-domiciled for tax purposes. This document provides an update on those proposals and sets out the detail of proposals to charge IHT on UK residential property.