TAX
Residents-based Regime (Non-Dom)
Navigate the Changes to the UK Non-Dom Tax Regime
With significant changes to the UK non-domiciled tax regime, understanding the new rules is essential for optimising your tax position. Our expert tax planning services are designed to help you navigate the transition smoothly and make the most of strategic tax opportunities.
The Shift to Residence-based Taxation
Under the new tax regime, non-doms will be taxed based on their UK residency rather than domicile status. This means all worldwide income and gains will now be subject to UK tax. However, there are several strategic benefits that you can leverage with expert planning:
Four-Year Foreign Income and Gains (FIG) Regime:
If you’re new to the UK, we’ll help you maximise the 100% relief on foreign income and gains during your first four years of residence.
Temporary Repatriation Facility:
We’ll guide you on how to bring funds into the UK temporarily, without triggering tax liabilities, giving you more flexibility for business investment or financial planning.
How the New Non-Dom Tax Regime Affects You
The new tax system will affect non-doms in different ways depending on your situation. Here’s how we can help:
If You're Moving to the UK:
We’ll help you maximise the Four-Year FIG regime, ensuring you take full advantage of the tax relief available during your first few years of UK residency.
If You're an Existing Non-Dom Resident:
If you’ve been using the remittance basis, this change could increase your tax obligations. We’ll guide you in reassessing your financial strategies to minimise impact.
If You Plan to Bring Funds to the UK:
Through the Temporary Repatriation Facility, you can bring funds into the UK without triggering tax liabilities. We’ll help you make the most of this flexibility for investment or business purposes.
Inheritance Tax Planning:
The new regime introduces changes to inheritance tax rules. Our experts will ensure your estate planning remains compliant and tax-efficient under the new system.
Strategic Tax Planning for Non-Doms
Our expert tax planning services can help you navigate the complexities of the new non-dom tax regime. Here’s how we can support you:
Maximise the Four-Year FIG Regime
We’ll ensure you fully benefit from the tax relief during your first few years of UK residency.
Plan Your Repatriations Wisely:
With our guidance, you can bring funds into the UK strategically, minimising tax liabilities.
Get Tailored Professional Guidance:
A personalised tax strategy is essential for success under the new regime. We offer one-on-one consultations to ensure you stay compliant and optimise your tax position.
Need Help Navigating the Changes?
The transition to the new non-dom tax regime requires careful planning. Our team of experts can provide the guidance you need to make informed decisions and optimise your tax strategy.
