Non - dom reforms
Fazil Kazmy CeMAP. CII ER1
![Fazil Kazmy CeMAP. CII ER1]()
Fazil Kazmy CeMAP. CII ER1
Residential & Commercial Mortgages??BTL/HMO/MUFB??Bridging??2nd Charge Loans??Trusts Wills Equity Transfers??Property Finance??BRRR??Refurbishment??Remortgages??Capital /Raising??Expats??Business Loans??Insurance??BMVs
In the last summer`s Budget, then - chancellor George Osborne announced plans to change the tax regime for people who have a foreign domicile.
Permanent non - dom status for tax purpose, as it published a consultation on how they could be prevented from sheltering UK residential property from inheritance tax
This will involve abolishing the practice known as "enveloping" where individual hold UK residential properties through an overseas company or similar vehicle.
(from Financial Adviser 1 September 2016)