Changes to Business Property Relief and Agricultural Property Relief
The podcast discusses the abolition of the Remittance Basis for UK Resident Non-Domiciled individuals and explains the new Four Year Foreign Income and Gains regime, after which worldwide income and gains become subject to UK tax. It also considers the new basis for inheritance tax which has changed from a domicile basis to tax to a Long-Term Residence Test, capturing worldwide assets and offshore trust assets within the UK inheritance tax net. Also discussed are the changes to Agricu...