Ashurst tax experts explore Labour’s new tax landscape following their recent UK election victory.

In the aftermath of Labour’s historic UK election victory, tax experts Patricia Allen, Alastair Ladkin and Sophie Lloyd shed light on some of the key tax measures likely to affect fund managers and when they are likely to be introduced during Labour’s 1st term in office.

Together the team discuss the need for non-domiciled individuals and fund managers to consider their personal circumstances and seek professional advice due to the potential tax changes which include replacing non-dom status with a new residence-based regime and taxing carried interest at income tax rates. There is a lack of detail surrounding these announcements, and therefore the discussion considers some of the possible ways these changes could be made.

This is the second episode in the Tax Lyrical mini-series tackling key tax issues. To listen to this episode and subscribe to future episodes, search for “Ashurst Legal Outlook” on Apple Podcasts, Spotify or wherever you get your podcasts.

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Listeners should take legal advice before applying it to specific issues or transactions.