"Should I stay or should I go now?" - The implications of Summer Budget 2015 for foreign domiciliaries
The run up to the 2015 general election involved a great deal of uncertainty in relation to the future taxation of non-UK domiciled individuals (often referred to as ‘non-doms’).
The availability of the remittance basis and beneficial inheritance tax rules has led to a degree of backlash among members of the public who view the regime as unfair. Whilst the success of the Conservative party was seen as a positive result for current and future ‘non-doms’, it is perhaps not all good news. George Osborne used the first all- Conservative Budget in almost 20 years (delivered on 8 July 2015) to announce significant reforms to the current tax regime, declaring that “British people should pay British taxes in Britain – and now they will”.
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