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.