Finance Bill 2017

In an unexpected move, on 25 April 2017 the government announced that many proposed changes will be dropped from the Finance Act 2017, as there would be insufficient time for proper parliamentary scrutiny of them prior to the general election. It is now clear that the changes which were dropped include all of the reforms to the taxation of foreign domiciliaries, including the new deemed domicile rules and the inheritance tax provisions regarding indirect interests in UK residential property.

Andrew Goldstone and Natalie Quail review the latest tax developments that matter affecting private clients in Tax Journal.

Read the article here.