Thank you for attending our webinar on the new Non-Domicile Tax rules
We’d like to extend a heartfelt thank you to everyone who joined us earlier this week for RPGCC’s webinar on the new non-domicile tax rules. It was great to see so many of you engaging with the topic, asking insightful questions, and preparing to navigate these new regulations.
A quick recap of the new Non-Domicile tax rules
The changes, set to come into force from 5 April 2025, will significantly impact individuals who split their time between the UK and other countries or claim non-domicile (non-dom) status for tax purposes.
Here are the key points we covered:
- Tighter Residence Rules:
The statutory residence test has been revised to reduce ambiguity. New criteria will make it harder for individuals to qualify as non-resident if they have substantial ties to the UK, such as family or property ownership. - Non-Dom Taxation Changes:
The remittance basis of taxation is being curtailed. Non-doms will face additional restrictions on deferring UK tax liabilities on foreign income and gains brought into the UK. - Time Limits for Non-Dom Status:
The time frame for claiming non-dom status has been shortened. Long-term residents will lose the ability to claim non-dom status after a reduced period, aligning more closely with global practices. - Enhanced Reporting Requirements:
Individuals claiming non-dom status will face stricter reporting obligations, making transparency a priority for HMRC.
Key takeaways
The Government’s intent with these changes is clear: to ensure fair taxation and increase compliance. However, for individuals affected, these rules could have substantial financial and lifestyle implications. That’s why it’s crucial to act early, review your tax position, and plan effectively.
Next steps
If you missed the webinar or want to revisit the topics discussed, you can view the recording.
Please don’t hesitate to get in touch with our tax experts. Call us on 020 7870 9050 or email hello@rpgcc.co.uk to arrange a free initial consultation. If you wish to read more on this topic you can view the HMRC guidance here . Thank you again for your participation, and we look forward to supporting you in navigating these new challenges.
