HMRC have published a response to their further consultation published in August 2016 on ‘Reforms to the taxation of non-domiciles’.
The changes proposed will amend the deemed domicile rules for IHT and introduce them for CGT and Income Tax purposes. They also introduce the IHT charge on UK residential property owned by non-doms.
Draft legislation incorporating these changes were included in s40-42 of Finance Bill 2017.
The consultation also dealt with aspects of the Business Investors Relief: some areas of this have been simplified and extended in s18 Finance Bill 2017. The government have confirmed that further reviews will be undertaken to try and encourage more inward investment by non-doms.
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The original consultation and response documents can be found here.
