On 19 August HM Revenue & Customs published their response to the long-running non-domicile consultation and confirmed their intention to reform UK tax rules bringing the tax position of UK resident “non-doms” more in line with that of UK domiciled persons.
Although some areas of the proposed changes remain subject to a short consultation period running through to 20 October, the proposals are broadly in line with industry expectations.
Minerva are grateful to Nicholas Parkinson, Director Tax at Grant Thornton UK LLP for allowing us to publish a link to his briefing paper covering these proposals which will be legislated as part of the 2017 Finance Act, and come into effect from 6 April 2017. Nicholas’ briefing can be read here.
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