The UK is changing its tax rules for non-UK domiciled individuals and international residents, and with the recent General Election announcement, there is even more uncertainty to navigate. These changes could come into effect in April 2025 and would affect how foreign income and gains, inheritance tax, and trusts are taxed. The proposed new rules are complex, and there is still some abiquity as to how they would be applied.
In this video, Gavin Shaw - Partner, Family Office and Private Client, KPMG in the UK, outlines the key proposed changes and what they mean for different groups, such as those just arriving in the UK, those already living here, and expats. It also highlights the challenges for families with trusts.
Watch the video to explore how the changes could affect you. If you would like more information on any of these points or wish to explore the potential impact of the proposed changes on your circumstances, please get in touch.
