Despite recent warnings from the Institute for Fiscal Studies that “the economic case for tax cuts…is weak”, with a general election on the horizon, the Chancellor focused on a number of measures intended to differentiate his approach from that of Labour including, most notably, a 2% cut to national insurance rates. Of course, any reduction in tax needs to be funded, and so the Chancellor also announced various revenue raising measures including significant reforms to the tax treatment of non-UK domiciled individuals.
You can find our analysis on the various announcements affecting private clients via the links below.
The Spring Budget 2024: significant changes for non-doms
Non-UK domiciliary regime - an analysis
The Spring Budget 2024: a private client perspective
