‘Non-doms’ in the UK to reshape their taxation schemes

Non-domiciled in the United Kingdom are reshaping their properties and taxation schemes in anticipation of government’s taxation changes due to the Brexit.

The British tax system and its rules will radically change since April 2017 and it will do more once London calls upon Article 50 of TEU to start the EU’s exit negotiation with Brussels.

The tax system will not be the same, especially for non-doms who are tax residents whose property or what they consider as their country is outside the United Kingdom. The tax system was bound to change regardless but Brexit has sped up the process.

Thus, the legal consulting sector foresee months of hectic jobs for lawyers and consultants: the bulk of consultations are focused on income tax, inheritance tax, and corporate tax.

Wealthy non-doms are already starting to take preventive measures to mostly avoid, the Brexit’s negative effects on their wallets. These initiatives are amongst others, the reshaping of their investment and property funds and, ultimately, even leaving the United Kingdom.

Although maintaining a right fiscal and property status is always advisable, the uncertainty created by Brexit and its consequent opening of negotiations with Brussels turns it into an essential.

At Del Canto Chambers we are specialized in tax and trade law and we can be contacted at clerk@delcantochambers.com

Del Canto Chambers’ Editorial Board

Share
Share
Share
Share
Turnkey project management from Del Canto Chambers law firm

Major Cases

Corporate Cases
We have worked on several corporate cases including some of the worlds leading companies in media, luxury boats, football clubs, NGOs, investments and much more

GET IN TOUCH

Let us guide you on our services for corporate

Del Canto Chambers specialists are constantly up to date with new legislative changes and aware of any Spanish tax and legal implications. Contact our Spanish legal and tax specialists to find out the best tax planning and corporate structures in your circumstances.

Articles & News

At Del Canto Chambers we are always sharing our knowledge and act as an active voice across different media. The following articles and news are related to and relevant for Real Estate Sale & Purchase and Spanish Tax Law.

Mallorca: a place to live

Thanks to its strategic location in the Mediterranean, the island of Mallorca has, since ancient times, been a place of identity for numerous cultures and peoples who have left their

Read More

Service areas

Special focus on:

Frequently asked questions

Categories

If you wish to make an enquiry, please complete the form below. We will get back to you within 24 hours.

In accordance to the Bar Standards Board, we hereby inform you that you may contact us for a quotation.