Further detail on the changes to the taxation of non-UK domiciled individuals (and non-UK resident structures owning UK residential property), to be introduced from 6 April 2017, is unlikely to be known before Parliament returns on 5 September 2016, at the very earliest.
There has been speculation that the changes, announced in the UK 2015 Summer Budget, may be delayed by the vote to leave the EU. However, in the absence of any firm confirmation, it would be sensible to assume the changes will come into force from 6 April 2017, as originally announced.
Active consideration should therefore be given now by all those potentially affected.
Our specialist Wealth Planning team at Rooks Rider Solicitors is available to assist. Please contact Robert Drysdale, Chris Cooke or Karen Methold for further information and to discuss your individual circumstances and the options available to you.
Read a copy of our Briefing Note, entitled UK Summer Budget 2015: Offshore aspects for foreign domiciliaries and their Trustees, for further information relating to the proposed changes.
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