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.
Our team and its panel of third party advisers are highly experienced in advising and implementing effective planning for non-domiciles. We understand international lifestyles and can source a range of tax efficient solutions to suit each client’s situation, using traditional financial planning and innovative structures.
As part of our service we review legislative changes and other market forces, as well as evaluating a range of suitable structures, looking at their long-term viability and impact both in the UK, country of domicile, or proposed country of residence.
The Financial Conduct Authority does not regulate taxation advice.