Explanatory note for a client’s will to spouse absolutely, then to children absolutely


Published by a ³ÉÈËÓ°Òô Private Client expert
Precedents

Explanatory note for a client’s will to spouse absolutely, then to children absolutely


Published by a ³ÉÈËÓ°Òô Private Client expert

Precedents
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FORTHCOMING CHANGE: Abolition of non-dom regime and introduction of residence-based IHT regime.

At Autumn Budget 2024 on 30 October 2024, the Labour government confirmed that it will proceed with plans of the former Conservative administration to abolish the remittance basis of taxation and replace it with a residence-based regime, to commence on 6 April 2025. The government also confirmed its intention to move to a residence-based regime for inheritance tax. The changes will also affect the rules determining excluded property status, the Abolition of protected settlements status of offshore trusts, and changes to overseas workday relief.

For information on these changes, including draft legislation published with Autumn Budget 2024, see: Autumn Budget 2024—Private Client analysis — International, Autumn Budget 2024 (paras 2.56 and 5.51), OOTLAR (para 1.3) and TIIN: Reforming the taxation of non-UK domiciled individuals.

[Your] Will—[explanatory note]

This [explanatory note] explains the main provisions of your Will. Please read this [explanatory note] and your Will carefully. If, after reading this [explanatory note] and your

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