Full Taxation on Global Income
Non-Doms will no longer be able to shield foreign earnings from UK tax.
Loss of Remittance Basis
Previously, Non-Doms could defer tax on overseas income until it was brought into the UK. This option will disappear.
Estate & Inheritance Tax Exposure
UK Non-Doms may now be fully subject to UK inheritance tax on their worldwide assets.
Impact on Wealth Structuring
Trusts and offshore investments may no longer provide the same level of tax efficiency.
These changes will impact individuals who have been residing in the UK under Non-Dom tax status, including:
Long-term UK Residents – Those who have relied on the remittance basis for years.
High-Net-Worth Individuals (HNWIs) – Particularly those with significant offshore income, business interests, or trusts.
Entrepreneurs & Investors – Those holding assets in low-tax jurisdictions may face higher UK tax burdens.
Retirees & Second-Home Owners – Individuals maintaining assets abroad while residing in the UK.
With the loss of Non-Dom advantages in the UK, Switzerland stands out as a premier relocation option for those seeking a stable, tax-efficient jurisdiction.
Lump-Sum Taxation (Forfait Fiscal) – Switzerland allows foreign residents to pay a fixed tax based on living expenses rather than total global income.
Lower Capital Gains Tax – Unlike the UK, Switzerland generally does not impose capital gains tax on private asset sales.
Favourable Inheritance Tax – Many Swiss cantons offer reduced or zero inheritance tax on direct descendants.
Flexible Residency Options – Swiss residency permits provide access to attractive tax regimes and long-term security.
Elite Lifestyle & Infrastructure – Switzerland provides unparalleled safety, healthcare, and international networking opportunities.
To illustrate the impact of the upcoming changes, here are two tax simulations for a high-net-worth individual earning £2 million annually from foreign investments:
Income Tax: £2M taxed at UK rates (top rate 45%) → Approx. £900,000 tax due
Capital Gains Tax: UK rate of 20% → Approx. £200,000 tax due (assuming £1M in gains)
Inheritance Tax: 40% on worldwide assets above £325,000
Total Estimated Tax Burden: £1.1M+ per year
Lump-Sum Taxation: Fixed tax negotiated with Swiss authorities (typically £200,000-£400,000 per year)
Capital Gains Tax: £0 tax due (private capital gains generally untaxed)
Inheritance Tax: 0% in selected cantons for direct heirs
Total Estimated Tax Burden: £200,000-£400,000 per year
Potential Annual Tax Savings: £700,000-£900,000+ by relocating to Switzerland under the lump-sum taxation system.
This example highlights the significant financial advantages of relocating before the UK’s Non-Dom tax changes take effect.
Moving your residence before the April 2025 tax changes can help safeguard your wealth and provide financial certainty. swissrelocation.uk simplifies the transition with expert assistance in:
Residency & Visa Applications – Guidance on obtaining Swiss residence permits for tax-optimised relocation.
Tax Planning & Wealth Structuring – Tailored financial solutions to maximise the benefits of Swiss taxation.
Real Estate & Lifestyle Integration – Finding your ideal Swiss home with seamless relocation support.
Family & Education Services – Assistance with top-tier schooling options and family-friendly relocation services.
Concierge & Personalised Advisory – VIP services for a smooth and effortless transition.
The UK’s Non-Dom changes will take effect in April 2025, making early planning essential. Relocating to Switzerland before the tax reforms come into force ensures financial security, tax efficiency, and a seamless lifestyle transition.
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