In his first Autumn Statement, the Chancellor of the Exchequer confirmed that the tax changes for UK non-domiciled individuals will proceed as planned from April 2017.
The draft legislation will be published early December 2016 clarifying the exact changes and offering detailed guidance.
Here we look at the highlights affecting offshore structures and offer some insight into the other tax related points of note. Click here for PDF version.
Offshore issues
Income tax
National Insurance
Corporation tax
Admin
The next few months present the opportunity for clients to look at their assets and tax status to plan before it is too late.
Our expert Jersey team at Alex Picot Trust are ready to help clients understand the new rules, assess the impact, and prepare and implement a planning strategy ahead of April 2017.
More information can be found here: https://www.gov.uk/government/consultations/reforms-to-the-taxation-of-non-domiciles/reforms-to-the-taxation-of-non-domiciles
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