The end of easy offshore planning
The Budget continues to clamp down on non-dom and offshore planning, including:
- Tightening the residence-based regime
- Capping IHT benefits for some excluded property trusts
- Making dividends received during temporary non-residence fully taxable when you return
If you’re a UK business owner who has spent time abroad, or plans to, this could affect you.
Who needs to pay attention?
- UK business owners who worked overseas and took dividends while non-resident
- Former non-doms with historic offshore trusts
- People considering moving abroad for a short period for tax reasons
Why this matters to small business owners
Many owner-managers have international footprints:
- They’ve expanded abroad
- They’ve relocated temporarily
- They have assets or companies held offshore
What used to be “acceptable planning” may now be squarely in HMRC’s sights.
Action steps
- If you’ve been temporarily non-resident in the past, get a review
Don’t wait for HMRC to ask questions. - Map out any offshore structures
Know what you own, where, and how it’s taxed under the new rules. - Plan future moves carefully
If you’re considering working or retiring abroad, factor in the tighter rules from the outset. - Get aligned advice
Cross-border tax is not DIY territory. Make sure your accountant and any overseas advisers are on the same page.
How can we help at MDH
Book a quick tax chat with me, no strings attached. We’ll have a look at your situation and spot opportunities you might be missing. And as a thank-you, I’ll send you a free copy of our book 75 Ways to Pay Less Tax, packed with simple, practical tips you can put to work straight away. Let’s make sure your money’s working smarter, not harder.
