The new FIG regime: tax changes for non-doms and the actions you need to take
With major changes on the horizon for non-domiciled individuals, understanding the new tax landscape is essential. This episode dives deep into the upcoming tax reforms, exploring how these changes (effective from April 2025), will reshape the tax landscape for non-doms.
Hosts Leonora Stevens and Mike Hodges are joined by Alex Britton-Davis, partner at Saffery and a leading expert in UK residency and domicile, who breaks down the move away from the familiar remittance basis to the intricacies of the FIG regime.
Other key topics include:
The complexities of reporting foreign income,
- The significant reduction in tax exemptions for foreign income and gains,
- The shift from remittance basis to FIG regime,
- Key implications for individuals planning their tax year-end,
- Transitional rules and temporary repatriation benefits explained, and
- Strategies for mitigating tax liabilities before the April deadline.
