On 31 May 2023, the UK's first post-Brexit trade deals with Australia and New Zealand came into effect. As part of the new deals, the UK will introduce changes to the Youth Mobility Scheme (YMS) that make it easier for qualifying applicants from Australia and New Zealand to enter the UK pursuant to the YMS. The new trade deals will introduce the following changes (i) effective 29 June 2023, nationals of New Zealand between the ages of 18 and 35 years will be eligible to apply for a UK Youth Mobility Visa, and visa holders will be able to live in the UK for up to three years; (ii) effective 31 January 2024, Australian nationals between the ages of 18 and 35 years will be eligible to apply for a UK Youth Mobility Visa, and visa holders will be able to extend their visas for up to three years; (iii) UK nationals are expected to benefit from future changes to Australia's Working Holiday Maker scheme and New Zealand's Working Holiday Visa scheme.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

———————————————
ATTACHMENT

Full text of Tax Alert