Budget 2024 – what to expect

Non-Doms

Private Wealth Partner Sangeeta Rabadia at Spencer West LLP says:

“The government has long been talking about its intention to change the rules on how non-domiciled individuals are taxed. To date there has been no clarity in what these changes will look like therefore leaving a lot of people in the dark and causing a lot of speculation and scaremongering.

Practitioners like myself would hope to see specific details of exactly what the changes proposed are (timeframes, mechanisms etc) so that there is a lot more clarity and certainty to enable us to better advise clients.”

Family Law and SDLT:

Family Law Partner Anne-Marie Hamer at Spencer West LLP comments:

“More financial settlements in divorce/separation, with the utilisation of the non-court dispute resolution process playing a heavy part, as couples will want to save money wherever possible and given the current economic stressors in and outside of the UK, which impacts overseas assets.  I also expect family lawyers to see an increase in this work and how to approach such settlements.”