Buying UK Residential Property after 1st October 2013? If you or your clients are buying UK residential property between 1st October 2013 and 31st March 2014, you should be aware that if ATED applies to the transaction (i.e. if the property is valued at £2m+ and is being acquired by a non-natural person (e.g. a…
DetailsThe remittance basis charge (RBC) is payable, along with any balancing UK tax liability, on 31st January following the end of the tax year. In certain circumstances, the remittance basis charge may be paid from an offshore account without being treated as a remittance provided that various conditions are met, including that it is paid…
DetailsNon-doms can choose whether to pay tax either on all income and gains wherever they arise (known as the worldwide basis), or on the alternative basis (where UK sources of income are taxed as they arise and foreign income and gains are taxed but only to the extent that they are remitted to the UK).…
DetailsThe Statutory Residence Test represents an unprecedented overhaul of the tax rules on UK residency. Importantly, since its introduction in 2013, some individuals who had considered themselves UK resident need to spend significantly more time here in order to remain resident under the new rules. If you are considering coming to or leaving the UK,…
DetailsA “non-dom” is someone who does not have a UK domicile. Your domicile is a state of mind and circumstances. It is not necessarily the same as your citizenship or nationality. Generally speaking, you take the domicile of your father at the time of your birth. This is known as a ‘domicile of origin’. This…
DetailsThe Conservative Party’s surprise majority victory in the UK General Election will allow the new government to press ahead with its promise to make greater efforts to counter tax avoidance and evasion. Here are 11 points that highlight what this means for those claiming non-domicile tax status. The UK tax office has recently introduced a…
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