Private Clients - 09 Jun 2017
In what proved to be a disappointing election night for the conservative party and a decision that has apparently backfired on Prime Minister Theresa May to call a snap election, we note that there were a couple of significant casualties among the conservative MPs that lost their seats. Jane Ellison, Financial Secretary to the Treasury and Simon Kirby, Economic Secretary to the Treasury, both influential players where tax policy is concerned, are no longer part of the new government.
We have already been left with a period of uncertainty for our clients after all the proposed changes to the non-domicile rules were put on hold, but now it seems a fresh pair of eyes will be looking at what will go in to the next Finance Bill. While we were not sure on the timing of a new Finance Bill because of the shape of the House of Commons after the election, given all the other priorities that the new government has to tackle, we imagine it may not be until the next budget in the Autumn that we hear anything more on the matter.
As always, we will keep our eyes out for any developments and please do speak to your usual Frank Hirth contact if you have any questions.
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