Andy Wood asks: are the changes announced in the Autumn Budget 2024 a fairy tale for long-term expats?
Once upon a time – so the fairytales start – the UK tax system had broadly two major buckets (or should that be pails?) in to which individuals might be placed:
- UK domiciled; and
- Non-UK domiciled
Indeed, it had (almost) ever been thus.
A UK domiciled individual being subject to UK income and tax on worldwide income and gains. In addition, he or she would be subject to UK IHT on worldwide assets.
Download the full article below: