With sweeping changes to non-dom rules, Miles Dean, head of tax at Andersen, considers the best alternative low tax jurisdictions across Europe
The first Budget of the new Labour government, scheduled for Wednesday 30 October, is keenly awaited by markets, investors, companies and individuals.
In the wake of repeated warnings from Chancellor Rachel Reeves that difficult tax, welfare and spending decisions will need to be made, much has already been written about what it may contain.
But nothing is yet certain, leading to considerable speculation about the detail. The taxation of non-doms is already in the Chancellor’s crosshairs, and, short of a miracle, capital gains tax will soon be the next target.
The government recently confirmed that changes to the non-dom status - the remittance basis of taxation being replaced by a new residence-based regime - will apply from 6 April 2025 for income tax, capital gains tax and inheritance tax purposes.
