The proposals on non-domiciled individuals

The relief allowing UK investment appears fairly flexible. Investment can take any form and can be made via any entity (ie, directly by the individual or through an overseas company/trust). However, the relief is limited to investments in companies (partnerships are excluded) and the two-week period given for investors to remove proceeds from the UK following a sale is too short. The promised simplifications are welcome – particularly in relation to nominated income and foreign currency bank accounts. However, it is disappointing that many of the more complex rules relating to the remittance basis are outside the scope of the consultation.