As part of our post-budget follow up, we are hosting two webinars which may be of particular interest to our Private Clients. We include registrations details below on our Inheritance Tax Webinar and our Non Dom and Offshore Trust Webinar, as well as our in-depth Budget summary.
Inheritance Tax Webinar
The webinar will be led by members of our Private Client team and will open up a thought-provoking discussion on all things relating to IHT planning. This insightful and informative session will cover topics including:
• What has changed? Recent Budget changes to IHT and Capital Gains Tax (CGT)
• General IHT planning for you and your family
• IHT planning with Family Trusts and Family Investment Companies
• Cash flow modelling to identify surplus income and capital for lifetime gifts
UK tax: ‘non-doms’ and ‘offshore trusts’
The expected (and perhaps unexpected?) changes to the UK’s tax regime for non-UK domiciled individuals, including the impact on connected non-UK resident trust structures (which include civil law type entities such as Foundations) are due to be revealed in the UK’s Autumn Budget scheduled for 30 October 2024, with the detailed legislation usually released afterwards.
The impact could be as immediate as applying from Budget day (e.g., Capital Gains Tax rate increase and capital payments), 6 April 2025 or a later date, with a combination of these being likely.
It is expected that this will be a monumental shift in the UK’s tax landscape for affected individuals and structures, marking the most significant overhaul in this area in decades and replacing the links to ‘domicile’ with a new regime based solely on UK residence. Our webinar will reflect on the incoming changes and consider next steps for affected individuals and those involved with non-UK resident structures (e.g., non-UK resident trustees) to help identify the areas of interest or concern and navigate these new rules.
Our webinar, held in the weeks following the budget, will reflect on the incoming changes and will consider next steps to protect you, your family, business and assets.
Budget Summary
For a detailed written overview of what the budget really means, click here
