Autumn Statement 2024 – where now for non-doms?

On 30 October, the Chancellor of the Exchequer, Rachel Reeves, delivered the new government’s first Budget.

The Chancellor has seen fit to make good on the Labour Party’s manifesto promise to remove the concept of domicile and the remittance basis of taxation from the UK tax code with effect from 6 April 2025.  Residence, as decided from 2013/14 by the Statutory Residence test, will become from 2025/26 the key criterion of an individual’s UK tax position.

Three Stone’s Stephen Woodward, editor of the newly released Clarke’s Offshore Tax Planning (LexisNexis), hosted a seminar on 21 November in London to explore the impact of the Budget announcement and what it means for non-doms.