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UK Resident and Domiciled

Foreign Income of UK Resident and Domiciled

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A client who is UK resident and domiciled will be earning fair sum of money from his investments abroad. As he is UK resident and domiciled, he will obviously be taxed on arising basis on his foregin income with double tax relief available if applicable. He is thinking of severing his ties for domiciliary purposes to shelter his income abroad and pay remittance basis charge.

I understand that severing ties is not easy. What do others say? Any other options available to him to minimise his tax liabilities.

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14th Jun 2018 11:05

Before he starts severing ties to make him nom dom make sure you check out the new deemed domicile rules from 06/04/2017.
If he is deemed domicile he can't take advantage of the remittance basis.

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to Wanderer
14th Jun 2018 12:19

Wanderer wrote:

Before he starts severing ties to make him nom dom...


He ain't gonna be able to do that without also becoming non res. The whole premiss of the question is nonsense.
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