Goodbye remittance basis hello FIG

Since 6 April 2025, the remittance basis of taxation for non-UK domiciled individuals (non-doms) has been replaced by the Foreign Income and Gains (FIG) regime. This shift marks a significant change, as the new FIG regime is based on tax residence rather than...

The impact of frozen personal allowances

The impact of frozen personal allowances often leads to fiscal drag, a situation where individuals pay more tax as their earnings rise without a corresponding increase in allowances. This occurs because tax thresholds remain fixed while wages increase, thus...