The non-dom tax set-up for UK residents whose permanent home is overseas will be replaced with new rules from April 2025, the Chancellor said.
It means foreign nationals who live in the UK, but are officially domiciled overseas, will no longer be able to avoid paying UK tax on their overseas income or capital gains.
A "simpler" residency-based system will arrive in 2025.
#jeremyhunt #chancellor #budget
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