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Autumn Budget 2024—reforming the taxation of non-doms

Published on: 14 November 2024

Table of contents

  • New four-year FIG regime
  • UK residents not eligible for four-year FIG regime
  • Transitional reliefs for remittance basis taxpayers
  • Inheritance tax (IHT)
  • IHT & trusts

Article summary

Private Client analysis: At Autumn Budget 2024, it was confirmed that the remittance basis of taxation will be abolished and a residence-based regime for inheritance tax (IHT) will be introduced from 6 April 2025. Alison Cartin, Senior Counsel–Knowledge, Taylor Wessing LLP considers these reforms to the taxation of UK resident non-UK domiciled individuals (non-doms) and the practical points.

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