Future of the UK Non-Dom regime: Impact of the General Election

The Chancellor announced in the Spring Budget that the current remittance basis of tax for non-UK domiciliaries will come to an end on 5 April 2025. It will be replaced with a new residence-based regime for new arrivers, where foreign income and gains will broadly be exempt for 4 years. Thereafter, all UK residents will become taxable on a worldwide basis from 6 April 2025, whether domiciled or not, subject to some significant transitional arrangements for existing remittance basis users.

Full details of the proposed regime are set out at the end of this briefing, together with comments subsequently made by the Labour Party in terms of how they might implement a new regime if elected to Government.

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