The Financial Times quotes Sangna Chauhan on the impact of the abolition of UK non-dom status on her workload

As reported by the Financial Times, UK lawyers are said to be experiencing a surge in workload as they assist non-domiciled residents (non-doms) who have decided to remain in the UK despite the impending abolition of their tax status.

With the non-dom regime set to end on April 6, those who maintain a permanent home overseas but reside in the UK will lose the ability to avoid paying UK tax on foreign income. The change has prompted a significant number of non-doms to leave the country. However, those choosing to stay, often middle-aged individuals with children in school or entrepreneurs building businesses, face the complex task of restructuring their tax affairs.

Some lawyers have reported a substantial increase in business, with some teams working a third more than in the previous year. Lawyers are engaged in extensive restructuring efforts, including altering trusts and managing assets, to mitigate the new tax implications. The workload involves significant overhauls due to the dramatic nature of the tax changes, which include the potential for worldwide assets to be subjected to a 40% UK inheritance tax.

Sangna Chauhan, Partner, speaks to the Financial Times and says that her workload:

Feels a little bit more measured than others but that’s most probably because half the people have gone and we’re only restructuring for the other half.

Read the full piece in the Financial Times here.