The UK government recently introduced a new framework to revise residency and domicile regulations. The rules, brought into effect as part of broader restructuring around non-domicile status, present updated tax obligations and eligibility criteria for expats. These changes ensure tax fairness while aligning foreign income, inheritance tax (IHT) regulations, and residency requirements under a “residence-first”…
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From 6 April 2025, significant changes in UK tax legislation will take effect, reshaping how residency status influences inheritance tax (IHT) and asset planning. Central to these reforms are the introduction of the “Long-Term Resident” classification and the implementation of “residence tails.” Together, these provisions redefine the scope of Inheritance Tax (IHT) liability for individuals…
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The UK government’s recent announcement to abolish the current non-domicile (non-dom) tax status from 6 April 2025 signals a landmark shift in financial planning for individuals previously benefiting from this regime. For over 200 years, the non-dom framework has afforded UK residents with permanent homes abroad significant tax advantages. However, the proposed replacement—a residence-based test…
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Please be advised that the information in this article regarding QNUPS and IHT is no longer accurate due to the recent changes announced in the UK Budget. Starting in April 2025, the regulations will have significant implications that may affect your understanding of these topics. We encourage you to stay informed and consult with a…
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Please be advised that the information in this article regarding QNUPS and IHT is no longer accurate due to the recent changes announced in the UK Budget. Starting in April 2025, the regulations will have significant implications that may affect your understanding of these topics. We encourage you to stay informed and consult with a…
Read more
Please be advised that the information in this article regarding QNUPS and IHT is no longer accurate due to the recent changes announced in the UK Budget. Starting in April 2025, the regulations will have significant implications that may affect your understanding of these topics. We encourage you to stay informed and consult with a…
Read more
