Time Is Running Out: South African Expats in the UK Must Act Before the Tax Net Closes

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Time is running out as the UK tax net closes on South African expats

The UK is set to overhaul its tax regime, abolishing the long-standing non-domiciled status (non-dom) and implementing a residence based taxation system from 6 April 2025.

This change means that South African expats who moved to the UK before 6 April 2022 will soon be subject to UK tax on their worldwide income and assets. This includes properties, shares, retirement funds, and even trusts located in South Africa.

Getting advice and restructuring their South African financial affairs early in the new year is crucial to avoid double taxation and protecting wealth.

The Intlax team has done a deep dive on the implications and the steps you can take before the clock runs out. Read it here: https://www.moneyweb.co.za/moneyweb-opinion/soapbox/south-african-expats-in-the-uk-must-act-before-the-tax-net-closes/