UK Chancellor of the Exchequer Jeremy Hunt delivered the Spring Budget 2024 on 6 March 2024. Some of the main tax-related measures of the budget are summarized as follows:
Replacing Non-UK Domicile tax rules with a residence-based regime – This measure abolishes the remittance basis of taxation for non-UK domiciled individuals and replaces it with a simpler residence-based regime. Individuals who opt into the new regime will not pay UK tax on any foreign income and gains arising in their f…