On 6 March 2024, the UK government announced the planned abolition of the remittance basis of taxation for UK resident non-domiciliaries from 6 April 2025 onwards for foreign income and gains (FIG). This will be replaced with...more
On March 6, 2024 UK Chancellor Jeremy Hunt announced in his Spring Budget an intention to rewrite the UK taxation of internationally mobile people from April 2025. As outlined it would appear to be a zero tax regime on non-UK...more
Escape from New York- According to data released by the IRS earlier this year, the pandemic triggered a “wealth migration” that saw high-tax states like New York lose high-income earners to low-tax jurisdictions such as...more
As the influx of New York residents depart to warmer and sunnier pastures in the South, they may be leaving their homes but not necessarily their obligation to the New York State Tax and Finance Department. There are many...more
As we deal with the first snowfall of the season in New York, many New Yorkers may think about picking up and moving to Florida to avoid the cold winter. Many New Yorkers also think about making Florida their tax home, to...more
Implementation of the 6 April 2017 tax changes applicable to non-domiciled individuals, offshore trusts and UK residential property has been delayed because of the forthcoming UK General Election on 8 June 2017. Whilst it is...more
The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with draft legislation that will take effect from 6 April 2017. As well as...more
The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with some draft legislation that will take effect from 6 April 2017. As...more
New UK Chancellor Philip Hammond gave his first Autumn Statement on 23 November 2016. Whilst there were no further details relating to the reforms of the taxation of non-UK domiciliaries and UK residential property, the...more
Summary - Following the United Kingdom’s vote to leave the European Union on 23 June, and the change of Prime Minister and to the UK Government, there was significant uncertainty regarding what would happen to the...more
The Chancellor of the Exchequer’s recent Summer Budget and the related legislation introduced a series of unexpected tax changes along with the promise of further changes to come. Shortly after the Summer Budget was issued...more
On 8th July 2015, the UK Government announced several changes to UK tax legislation that will affect those holding carried interest in fund structures which utilise at least one partnership (including a limited partnership),...more
The Chancellor of the Exchequer’s Summer Budget on 8th July introduced a series of unexpected tax changes affecting the private equity and investment management industry along with the promise of further changes to come....more
Following the United Kingdom’s General Election in May, George Osborne, Chancellor of the Exchequer, gave the new government’s first budget speech on 8 July 2015. In his speech, Mr Osborne announced some changes to the tax...more
The new tax announcements are designed to improve productivity and correct imbalances in the tax system. On 8 July, UK Chancellor of the Exchequer George Osborne made a number of announcements relating to the tax system...more