Non-dom tax changes update

In Rachel Reeves' statement to Parliament, on 29 July, she confirmed that the new government intends to go ahead with the abolition of the UK's existing tax regime for UK resident non-UK domiciled individuals from 6 April 2025, and the introduction of the new 4-year FIG (foreign income and gains) exemption regime announced by the previous government at the Budget in March 2024.

However, there were some useful nuggets of additional information, and a date for the Budget – 30 October 2024 – when we are promised further details on a number of key points and draft legislation.

Read our summary