Changes announced in the UK's Spring Budget which see the end of the current non-dom regime and its replacement with a TR approach similar to that of countries such as New Zealand may get delayed by a further year, according to international law expert James Quarmby.
In a LinkedIn post, Quarmby, who is partner and head of private wealth at Stephenson Harwood, said he looked through the Finance Bill No.2, "which enacts much, but not all, of the Budget announcements.
"However, the proposed new non-dom rules don’t get a mention. We understand this will form part of a future Finance Bill, but I’m betting that won’t happen this side of the election.
"If I’m right then that means it’s unlikely we will see the changes we were expecting by April 2025. Perhaps this buys us another year’s grace and even a government more willing to listen and consult before passing any legislation?"
