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Non-Dom Tax Podcast: Key Changes, Impacts & Expert Insights with Matt Bird of Sayers Butterworth LLP

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πŸ“’ Major Tax Shake-Up: What Non-Doms Need to Know

Matt Bird, tax partner at Sayers Butterworth, recently joined the London Property Podcast to break down the sweeping changes to the UK’s Non-Domiciled (Non-Dom) tax status, which end on April 6, 2025.

πŸ”Ή Non-Dom Status Abolished – UK residents now taxed on worldwide income and capital gains.
πŸ”Ή No More Remittance Basis Charge – Previously Β£30,000 to Β£90,000, now scrapped.
πŸ”Ή Protected Trusts Removed – Offshore structures now exposed to UK tax.
πŸ”Ή Flat 12% Tax – Applies to remitted untaxed income.
πŸ”Ή Inheritance Tax Impact – After 10 years in the UK, worldwide assets now subject to 40% IHT, driving many to relocate.

πŸ’‘ What’s Next?
Many Non-Doms are leaving the UK for tax-friendly destinations like Dubai, Italy, and Singapore. Those staying must rethink tax planning strategies to remain compliant and efficient.

πŸ“Œ Key Actions for Non-Doms & Investors:
βœ… Plan Ahead – Pre-arrival tax planning is now crucial.
βœ… Review Past Advice – Many old tax strategies no longer work.
βœ… Explore Double Tax Agreements – Some may still avoid UK tax residency with careful structuring.

πŸ”Ž Need Expert Guidance?
Get in touch with professionals who understand the evolving landscape and can help you navigate the changes effectively.

#UKTax #NonDom #WealthManagement #LondonProperty #TaxPlanning #LuxuryInvestment

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