Following announcements at the Spring Budget, changes and restrictions will be introduced to the Resident Non-Domiciled (RND) regime, although it will keep some of its spirit to continue to attract entrepreneurs and foreign talents to emigrate to the UK.
The new RND rules take inspiration from other neighbouring countries, including France, Italy and Spain.
Notable changes are the abolition of the notion of domicile and the concept of remittance. While we await further clarification from the government, the key elements include:
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.