Paul Solon and Victoria Thompson consider how proposed changes to capital gains tax will affect non resident trusts
The government has been promising a review of the residence and domicile regime for many years, and practitioners have grown accustomed to waiting in vain for the publication of concrete proposals. However, in his Pre Budget Report (PBR) last October, the chancellor announced that the wait was over and that legislation would be introduced in the Finance Bill 2008 (see key points box below).