26/08/2016 - Reforms to the taxation of non-UK domiciles – issue of consultation document by HM Revenue & Customs
After much anticipation and earlier than expected, HM Revenue & Customs have now issued the “stage 2” consultation document relating to the proposed reforms to the taxation of non-UK domiciles, which follows on from the original proposals announced in the 2015 Summer Budget.
It is clear from the consultation document that the proposals will take effect from 6 April 2017. They have remained broadly in line with the original announcements, albeit with some changes to the detail. Some conciliatory measures have been included, although not the de-enveloping “tax breaks” that were hoped for.
For our detailed analysis of the consultation document, please click here.