Residency, Domicile and the New Regime Coming in April 2025

Objectives

We are still seeing significant challenges by HMRC on residence and domicile as seen by the number of recent tax cases on these issues. Further, a significant reform was announced for non-domiciled individuals in Budget 2024, taking effect from April 2025. In this webinar we will review what are admittedly complex rules and consider the current position and where we are heading to ensure tax compliance for your clients.

Key topics

• Establishing whether someone is resident in the UK and dealing with dual residency.
• Using split year treatment for those coming to or leaving the UK
• The impact of non-residence
• Determining domicile and the impact of acquiring a UK domicile
• Announcements from Budget 2024 and moving non-domiciled individuals to a new ‘residence-based’ regime for foreign income and gains (FIG), including transitional rules and the Temporary Repatriation Facility (TPR).
• Impact on Overseas Workday Relief (OWR)

Who should attend

Partners and managers in practice who advise internationally mobile clients.