- The government published a call for evidence to review personal tax offshore anti-avoidance legislation, including the transfer of assets abroad and settlements legislation, to “modernise the rules and ensure they are fit for purpose”.
- HMRC published a summary of responses to the call for evidence in July 2025 stating they will “consider how best to engage with relevant experts in shaping and taking forward further consultation in this area”.
- As announced at Autumn Budget 2025, HMRC are establishing a small working group with members from representative bodies to take forward the next phase of policy development.
- Timing: It is anticipated that any transfer of assets abroad or settlements legislation changes will be implemented from the 2027/28 tax year at the earliest and the call for evidence related to this closed on 19 February 2025. The government are due to provide an update on future consultation in autumn 2025.
Resources (click to open)
