United Kingdom on Income Tax

The UK Chancellor's 2024 Budget abolishes the non-dom tax regime, introduces a new FIG system, and imposes changes on inheritance tax, pensions, CGT, and SDLT, with a focus on fiscal tightening.

The UK Budget 2024 introduces a residence-based tax regime effective April 2025, replacing domicile-based rules. Key changes include income tax and inheritance tax reforms, FIG relief for new residents, and transitional provisions for former non-domiciled taxpayers.

The UK Government's Autumn Budget 2024 introduces key changes for employers, including increased employer National Insurance Contributions, significant National Minimum Wage hikes, adjustments to Employment Allowance, and new regulations on umbrella companies, effective from 2025-2026.