Domicile

What is a Remittance?

What is a remittance? Non-UK domiciled individuals have the ability to claim the remittance basis which means that their overseas income or gains are not subject to UK tax if the funds are not ‘remitted’ to the UK. The transfer of money by the taxpayer from their overseas bank account 

Expat Returning to the UK? Residency, CGT, IHT & Pensions

Expat looking to return to the UK? Taxes for Expats – help & advice – facts & FAQs Introduction Expats may return to the UK for a variety of reasons. However, it is unlikely that such a person will want to create tax issues on their return. As such, we 

UK tax advice for expats

UK tax advice for expats Background – UK tax advice for expats There are a number of factors which will affect an individual’s exposure to UK taxes. These factors will differ and be of differing importance depending on the tax in question. A key factor will always be an individual’s 

Are We Likely to See the End of FATCA Any Time Soon?

Are we likely to see the end of FATCA any time soon? FATCA came into force in 2014. It requires foreign financial institutions (FFIs) to disclose their US clients’ accounts, either to their own domestic tax authority or directly to the US Internal Revenue Service (IRS). At the time of 

Business Investment Relief

Business Investment Relief Introduction – Business Investment Relief Business Investment Relief (BIR) was introduced to promote investment in the UK by enabling UK resident non-domiciled individuals to invest overseas income and gains into the UK, without paying any tax on remitting the income or gains.  Conditions For BIR to apply, 

Domicile Review

Whether you have a UK domicile or non-UK domicile can have a significant impact on your basis of UK taxation. So what is domicile? Domicile is a concept of private international law. The rules are set down in common law, but then modified by statute. The general law rules apply 

Window of Opportunity for UK Resident Non-Doms

Deadline of 5 April 2019 Much has been written about the raft of changes to the taxation of UK resident non-doms which have been implemented recently, some with retrospective effect from 6 April 2017. A number of earlier proposals in relation to the onward gift rules involving offshore trusts were 

What Tax should my UK Resident Non-Domiciled Clients be Paying?

Despite the recent reforms to the taxation of UK resident non-doms which came in to force with effect from 6 April 2017, there are still significant tax advantages for such individuals. So if you have clients who are UK resident non-doms, how much tax should they be paying in the 

What does Non Dom Tax Status mean?

Non dom tax status: What is a ‘non-dom’? Domicile can be an important factor in determining an individual’s tax position. Those having a domicile for tax purposes outside the UK are frequently referred to as ‘non-doms’. Non-dom tax status may confer a number of tax advantages, although the UK Government’s 

Non Doms Tax – Where are we now?

Non doms tax: the consultation HMRC first began consulting on the reform of the taxation of long-term UK resident non doms in 2015. Legislation was originally intended to be included in the first Finance Bill of 2017 but this was shelved due to lack of parliamentary time as a consequence