Significant changes were announced in the Summer Budget 2015 that will have a major impact on the taxation of high-net-worth individuals and non-UK domiciled taxpayers.
Individuals will be particularly affected if any of the following apply:
- They are non-UK domiciled and have been resident in the UK for a number of years
- They hold UK residential property via an offshore structure
- They let UK residential property
- They receive substantial dividend income
- They are higher earners who make substantial pension contributions
- They have undisclosed tax liabilities.
We have prepared a timeline to demonstrate the key milestones in the UK tax landscape. This includes the introduction of changes proposed in the most recent budget, along with those which had been announced previously.
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Please note that this blog is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content of this blog.
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