Spring Budget 2025: A quiet moment before the Autumn storm – why now is the time to plan ahead

While today’s Spring Statement delivered few surprises and avoided any immediate tax hikes, the underlying message for wealth holders is clear: pressure is mounting, and the Autumn Budget may carry a much sharper fiscal bite.

At Ocorian, we understand that for internationally mobile families and UK-based wealth holders alike, clarity and strategic foresight are essential. The removal of the non-dom regime and accompanying reforms to income, capital gains, and inheritance tax continue to reshape the landscape for private clients. But as Tracey Neuman recently shared, these changes also offer significant opportunities for early movers.

We encourage clients to use this “pause” in policy change to get ahead of what’s coming. Whether you are reassessing your UK residency status, managing trusts and structures affected by IHT reforms, or seeking to optimise your position under the new Foreign Income and Gains (FIG) regime, now is the time to act.

What five key messages are we communicating with our clients right now? 

This calm is temporary: 

The Chancellor’s fiscal headroom has narrowed, and spending cuts alone may not be enough. Wealth-related taxes could return to the agenda in the Autumn.

FIG regime planning is critical: 

Especially for those entering (or re-entering) the UK, the short four-year relief period demands careful coordination to maximise benefits.

IHT considerations remain urgent: 

With the abolition of protections for existing settlements and potential further changes ahead, planning around succession and trust structures should be prioritised.

Global mobility matters: 

If you're considering a change in domicile or residency, now is the ideal time to take professional advice and implement any transitions with tax efficiency in mind.

Increased information exchange: 

It is important to understand what information is being provided to revenue authorities (RA’s) and that the information is correct. This will help limit inquiries and potentially the application of costly penalties.

How can Ocorian’s private client team support post UK Spring Budget? 

Our dedicated Private Client team is on hand to help you navigate the evolving tax environment and take control of your family’s future financial stability. 

For more in-depth guidance tailored to your circumstances, please get in touch or visit our dedicated res-non-dom support hub for useful tools and regular updates as they become available.