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London Non dom seminar held by Enterprise Tax Centre (“ETC”)

Author

Andy Wood

Andy is a practical, creative tax adviser who assists a variety of clients in achieving their personal and commercial objectives in the most tax efficient manner.

Thank you to the 50 professional business advisers who came along to our seminar entitled Non dom tax changes, issues and opportunities: Emergency update held at Home House, London on 3rd November.

Following on from the presentation if you would like any further information on the non dom tax changes or a meeting with ETC please contact clare@etctax.co.uk.

For those who were not able to make the seminar, our director Andy Wood gave an insight into the history and background to the non dom rules including the consultation process and timeline of regimes. He followed this up with a a rough guide to domicile of origin, domicile of choice and the concept of deemed domicile.

Andy went on to talk about the general changes to the remittance basis of tax for both income tax and CGT purposes. He also talked about the generous present provide by the Government in the form of CGT rebasing. Andy then discussed non dom Mixed funds rules and the other great giveaway in these proposals of a ‘temporary window’ where one can pick apart their mixed funds.

Andy then moved onto Business Investment Relief (“BIR”) and Inheritance Tax (“IHT”) looking at the current IHT rules and the draft new rules. He then looked at excluded property including the old definition and the seminal changes to these provisions Andy looked at QNUPS as way of dealing with UK residential property held on excluded property trusts, again giving examples. He spoke about a new class of tax pariah – namely returning or former domiciled residents – and then went on to talk  “Protected Trusts” where he looked at examples and gave an overview with action points.

Andy concluded the seminar with a summary of potential actions and planning to consider pre and post April 2017.

Please note, we will be holding a similar event in Manchester on Wednesday 7 December 2016 – please contact us for more details

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