Budget 2024: changes to UK non-dom regime

The UK Chancellor's Budget-day announcement of significant changes to the current UK tax regime for UK resident non-UK domiciled individuals (non-doms) followed months of media and political commentary on 'scrapping' the existing non-dom regime, as Labour had promised to do. If the proposals are implemented as announced at the Budget, from 6 April 2025, the UK's existing tax regime for non-doms will cease to exist and will be replaced by a new beneficial tax regime based on tax residence.

We have created a short update that provides details of the new regime and considers how the proposed changes impact on individuals who are already UK resident and on existing and new non-UK trusts established by non-doms.

View the update

We hope you find this useful. If you would like to discuss the changes and how they might impact on your position please do not hesitate to contact us.