Recent changes in UK legislation have made the attractive taxation rules applying to non-domiciles more difficult to use in recent years, both for those already living in the UK and those considering moving.
The need for private wealth clients to seek professional advice in this area, therefore, has never been greater.
What do the Changes Mean?
The changes affect individuals who are UK resident, but UK non-domiciled, i.e. people living in the UK, who are not intending to live in the country permanently.
These individuals are liable to UK tax on a ‘remittance’ basis, so any foreign income and gains are not subject to UK taxation, so long as they are not remitted into the UK.
How can we help?
Just like in anybodys home country, seeking professional advice from experts here in the UK is vital when it comes to managing finances to ensure that they are on the right side of the law while remaining as tax efficient as possible. We can help by providing guidance and navigation in this complex area of financial planning.
The Financial Conduct Authority does not regulate taxation advice.