Nicola Roberts, a tax partner at Deloitte, comments.
There have been two measures included in today's Budget notes relating to the taxation of non-UK resident individuals.
The first is as announced in the Autumn Statement 2013, that legislation will be introduced to charge capital gains tax on non-residents owning UK property. Whilst we will have to wait for the consultation document which we expect on 27 March for more detail, the commentary released today does confirm this will only relate to UK residential property and to future gains from April 2015.
The second measure is that the government also intends to consult on whether and how the personal income tax allowance could be restricted to UK residents and those living overseas who have strong economic connections. Currently residents of most countries are able to access the personal allowance for UK income if they are resident in the EU or resident in a country with which the UK has a double tax treaty. It seems unlikely the personal allowance will not be made available to EU residents, but residents of other countries (for example the USA) may have a changing position.
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