Non-Domicile
January 30th, 2008Currently individuals resident but not domiciled in the UK are only chargeable to offshore income and capital gains to the extent that the income or gains are remitted to the UK. For the purpose of quantifying presence in the UK for residency purposes the days of arrival and departure are ignored. For inheritance tax purposes individual’s acquire a ‘deemed’ UK domicile it they have been resident in the UK in 17 of the last 20 tax years prior to the relevant event, such as death.
For more information visit Source Independent Financial Advisers
