On 30 October 2024, Chancelor Rachel Reeves presented the UK budget, which included significant changes to the tax regime for non-domiciled individuals. Specifically, the budget proposed the abolishment of non-domicile status and creation of a new residence-based test known as the Foreign Income and Gains Regime (FIG). As outlined, the new FIG regime will be effective 6 April 2025, greatly impacting the tax situations for individuals moving to or from the UK.
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Author Guest - Richard Watts-Joyce, CTA, ATT
Richard is the co-founder and Managing Partner of the UK office of Global Tax Network, and has over 25 years of experience in international tax consulting. He assists employers with globally mobile employees, high net-worth individuals, non-domiciles, and professional sportspersons and entertainers with international tax planning and compliance.
Tax Issues for Short-Term Business Visitors Traveling to the United Kingdom
on March 29, 2024
| By Guest - Richard Watts-Joyce, CTA, ATT
|
Business Travelers,
Mobility Tax,
United Kingdom
In today's global economy, business travel is an essential part of the job for many individuals. Employees regularly cross borders to attend conferences, meet clients, explore investments, and more. For employers, managing the tax compliance needs of their business travelers can be complex as each country has unique requirements that must be understood and followed.
