Following the Queen’s Speech last
week, it is rumoured that a number of Finance Bills will be published on 28
June, which may include the proposed legislation regarding the changes to the “non-dom”
regime.
However, a leading Counsel, closely involved with the
drafting of the “non-dom” legislation has publicly stated that it is
likely that the proposed changes to the “non-dom” regime would be deferred such
that the new rules would apply with effect from 6 April 2018. It is thought that it would be too difficult
to introduce this complex legislation part way through the current tax year and that non-doms are already experiencing too much uncertainty in their tax situation in the 2017/18 tax year.
However, until that draft legislation is published non-one will know the
approach the Government will take with regards to implementation of the
proposed “non-dom” changes.
If you have any questions on the proposed “non-dom” legislation,
then please contact Paulette Peterson on ppeterson@petersonsims.com