The reforms include:
- Changes to who is deemed a non-UK or UK domicile in relation to inheritance tax
- Changes to the classification of domiciles born in the UK
- The opportunity to rebase their assets
- Changes to the taxation of offshore trusts
Rakesh Dabasia, Private Client Tax Director at INPACT member Rayner Essex in the UK, has summarised the reforms to the taxation of non-UK domiciles on Rayner Essex’s website.
If you need any more information regarding the taxation of non-UK domiciles you can contact Rakesh at email@example.com.