Although 2011 saw few major legislative changes that affect private clients, it brought much to keep tax practitioners occupied, with a steady stream of consultation documents and announcements, some of which will result in significant changes to the UK tax system. Some of the proposals will bring more certainty on whether an individual is UK resident, help non-domiciled individuals to invest in UK businesses, and encourage larger charitable bequests. Meanwhile, improvements to entrepreneurs’ relief and venture capital schemes should benefit investors and businesses alike.
