It has been announced that a significant number of proposals have been dropped from the Finance Bill having only four hours in the Commons this afternoon for debate before the Bill passes through later today.

All of the non-domiciled changes are amongst those dropped today but the expectation is that if the Conservatives are returned to Parliament, they will be reintroduced in a Bill post election.  Furthermore, it is likely the 6 April 2017 start date could remain for the non-domiciled changes, as those individuals and trusts affected by it have been aware of these proposed changes for a very long time.  Some of the other proposals (which were only introduced in the recent Budget) may well be delayed until 6 April 2018.

Watch this space.

 

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Janet Pilborough-Skinner - Partner

E: jpilborough-skinner@goodmanjones.com

T +44 (0)20 7874 8854

Janet specialises in advising entrepreneurs and business owners on their personal tax. Her expertise in onshore and offshore personal taxation planning is relevant to both those in UK and those who come to us looking to establish a business or a home in the UK.

She has particular experience with family businesses where she advises on succession and inheritance tax planning.

She also advises non-domiciled clients on offshore structures, domicile and residence planning and trusts.

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