It has been confirmed that the “non-dom” tax changes are to be introduced with effect from 5 April 2017, as originally intended. HMRC has today published the legislation which will appear in the Finance Bill after the summer recess.
The announcement states that “relatively minor amendments” have been made to the legislation to “provide greater clarity”, and to “ensure that the legislation works as intended.”
This announcement is welcome, as it will end the uncertainty resulting from the removal of the non-dom legislation from the Finance Bill earlier this year (as a result of the General Election).
We will be reviewing the draft legislation, and will comment further once we have had an opportunity to understand its full impact.
For further information please speak to your usual Saffron contact, or get in touch via email@example.com.