United Kingdom: Update on Finance Bill (No.2) 2017 - impact for globally mobile employees and employers

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July 2017


The unexpected snap UK general election in June 2017 meant that only a limited number of measures were enacted into Finance Act 2017.   Notably, for globally mobile employees and their employers, draft provisions dropped from Finance Act 2017 included rules to introduce a deemed domicile status for all tax purposes from April 6, 2017, together with the opportunity for many non-domiciled individuals to ‘tidy up’ their offshore bank accounts.
However, the UK government has now confirmed that where omitted provisions were due to commence from April 6, 2017 (including the deemed non-domicile and account cleansing provisions referred to above), this will remain the case albeit with some technical adjustments/additions to make sure the legislation functions correctly. The draft provisions will be included in Finance Bill (No.2) 2017, which will be published in September 2017, shortly after the UK Parliament returns from its summer recess.  To provide some certainty, the UK government has published, in advance, certain draft provisions.

Globally mobile employees and their employers will welcome the relative certainty these announcements bring, particularly where they had already taken actions on the basis that the changes would apply from April 6, 2017.

Contact us

Leo  Palazzuoli

Leo Palazzuoli

Global Mobility and Immigration Leader, PwC United Kingdom

Tel: +44 7738 310312

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