Autumn Budget 24: Non-dom status abolished from April 2025

Non-dom regime 'outdated', Reeves said

clock • 3 min read

The government has confirmed it will abolish the ‘non-doms' regime of preferential tax rules.

Announced in the Autumn Budget today (30 October), Chancellor Rachel Reeves says she will remove the "outdated concept" of domicile from the tax system from April 2025. She says she will introduce a new, residence-based scheme with "internationally competitive arrangements" for those coming to the UK on a temporary basis. The move will remove the 50% discount on foreign income in 2025/26, apply inheritance tax, set the capital gains tax rebasing date at 5 April 2017, and extend the Temporary Repatriation Facility from two to three years. The Office for Budget Responsibility said th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Morningstar's Kenneth Lamont: Five key questions on the shift in asset management

Morningstar's Kenneth Lamont: Five key questions on the shift in asset management

'Year of significant transformation'

Kenneth Lamont
clock 11 February 2025 • 4 min read
Friday Briefing: What Trump's first trade war can tell us about his second

Friday Briefing: What Trump's first trade war can tell us about his second

Making good on campaign threat

Eve Maddock-Jones
clock 10 February 2025 • 7 min read
Stories of the week: FCA slammed over name and shame plans; MPs to scrutinise use of AI in financial services

Stories of the week: FCA slammed over name and shame plans; MPs to scrutinise use of AI in financial services

The FCA, Saba, and AI: The biggest stories from the world of investment and asset management this week

clock 07 February 2025 • 1 min read
Trustpilot