Labour’s Non-Dom Reform: Will the Wealthy Flee the UK and Drain Billions in Tax Revenue?
The UK Labour government's recent announcement on modifying the non-domiciled (non-dom) tax status has generated significant debate and concern. The changes aim to scrap the remittance basis of taxation and replace it with a more residence-based system, impacting the tax privileges of wealthy individuals residing in the UK without being domiciled there.
Abolishing the non-dom status - what does it mean for expats?
The UK's tax regime for non-domiciled residents (non-doms) is set for significant changes starting 6 April 2025.
Halfway through the UK tax year, UK expats can now take full advantage of split treatment, non residence & dual residency to maximise allowances & minimise taxes
The beginning of October marks the halfway point of the UK tax year and for expats. That brings with it potential tax savings by utilising both your country of residence's tax free allowance and your country of origin.
