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Marianne Kafena

End of non-domiciled status: Marianne Kafena for Tatler

Posted on 27 March 2024

Marianne Kafena, Mishcon de Reya Partner specialising in international trusts and tax, was in Tatler's 'expert corner'. Following the Chancellor's Spring Budget announcement on 6 March that the UK will move to a residence-based tax system from 6 April 2025, Marianne summarised the key changes.

"The changes announced on 6 March sit in a highly complex tax system in the UK. The intention is to simplify the regime and provide a short transitional period to allow taxpayers to adapt. The new regime will run from April 2025, but, with no legislation available yet and a general election taking place by January 2025 at the latest, things might still change. Despite current uncertainty, planning at this stage is important.

"It is important to remember that domicile has a second role that has nothing to do with tax. Under English law, domicile is an individual's personal law. This means that it governs things like who has the right to inherit and other aspects of our personal lives. This role of domicile has not been changed by the Budget."

Read full article here.

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