From 1 September 2025, individuals will be able to request access to trust information contained in the UK’s Register of Overseas Entities that is not otherwise available to the public.
Since its introduction in August 2022, the UK Register of Overseas Entities has required overseas companies owning property in the UK to disclose details of their beneficial owners. Where a trust is involved, additional information about that trust must also be provided.
Until r...
In the Autumn Budget 2024 the government announced changes to agricultural property relief (APR) and business property relief (BPR) from inheritance tax, while mainting fixed the inheritance tax (IHT) nil-rate band for a further two years.
The government will publish a technical consultation by early 2025 with reforms planned for April 2026.
Inheritance Tax (IHT) in England and Wales: exemptions and reliefs
The IHT is a tax payable on the estate of someo...
With Legislative Decree (LD) No. 139 of September 18, 2024 on “Provisions for the rationalization of the registration tax, inheritance and donation tax, stamp duty and other indirect taxes other than VAT”, article 3 par. 4-ter of Legislative Decree No. 346/90 is amended, which dictates the conditions for exemption from inheritance and donation tax for transfers of businesses or branches thereof, company shares and interests made in favour of the spouse and descen...
Changes to the taxation of non-UK domiciled individuals
Abolition of the “remittance basis” and the new “FIG” regime - Income tax and Capital gains tax (CGT)
Starting from 6 April 2025, the current “Remittance Basis” regime, available for non-doms, will be abolished and replaced by a new “Residence-based” regime, known as the Foreign Income and Gains (FIG) regime. The concept of domicile will no longer be relevant to UK taxation, and as a general rule, ...
"Change begins now” said Labour’s leader Keir Starmer, winner in the UK general election.
The new Labour government is set to implement in the coming months a series of fiscal policies to take effect from 6 April 2025 with the aim of rebalancing the budget deficit and encouraging economic growth, including:
Abolition of the resident non-domicile status: “non-dom" status refers to a person's tax status and describes a UK resident whose permanent home (“domicil...
