Benefits and Pitfalls of the Non-Dom Fig Regime
The UK's new foreign income and gains regime, which replaced the remittance basis for non-UK domiciled individuals on April 6, 2025, offers benefits and pitfalls.
The previous remittance basis regime allowed non-doms to shelter their foreign income and gains from UK tax if they were not remitted to the UK.
The new Fig regime provides relief from UK tax on foreign income and gains for the first four tax years of UK residence, but only for individuals who have been non-UK resident for the previous 10 consecutive tax years.
- Available to individuals arriving in the UK who meet the residency criteria.
- Relief from UK tax on foreign income and gains for four tax years.
- Foreign income and gains can be brought into the UK to be held, spent, or invested.
No direct quotes available in the text.
Author's summary: New Fig regime offers tax benefits for non-doms.
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