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Autumn Budget 24: Non-dom status abolished from April 2025
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Announced in the Autumn Budget today (30 October), Chancellor Rachel Reeves says she will remove the «outdated concept» of domicile from the tax system from April 2025. She says she will introduce a new, residence-based scheme with «internationally competitive arrangements» for those coming to the UK on a temporary basis. The move will remove the 50% discount on foreign income in 2025/26, apply inheritance tax, set the capital gains tax rebasing date at 5 April 2017, and extend the Temporary Repatriation Facility from two to three years. The Office for Budget Responsibility said th...
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