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From garage to unicorn – Employment law lessons for scaling tech teams
Catherine Bourne
We recently outlined the proposed changes to the non-UK domicile (non-dom) tax regime following the publication on 19 August 2016 of HMRC’s latest consultation document. The consultation makes it clear that there will be a window of opportunity for individuals who will become deemed domiciled in April 2017 to plan for these changes, albeit a short one. We have outlined our initial thoughts on what the planning opportunities may be.
The latest round of consultation on the changes to be made to the non-dom tax regime was released on Friday. The changes are to come in on 6 April 2017 and will mean that non-doms are deemed to be UK domiciled for all tax purposes after 15 years of UK residence. There will also be look through provisions for UK residential property held in offshore structures.
…well, not exactly. But, if you can demonstrate that you have taken “reasonable care” in completing your tax return, you could obtain (arguably) the next best thing.
"He that dies pays all debts," says Shakespeare in the Tempest. Indeed, debts are payable from a deceased’s estate on their passing - and not by their beneficiaries or family if the estate has insufficient assets to cover the liabilities.
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