Non Dom Articles continued
- Article Dates:
- 2014
- All Months
Displaying Matches 1 thru 10 of 21 Found. NEXTLAST
Non doms who have a UK domiciled spouse can elect to be treated as UK domiciled for UK inheritance tax purposes.This then allows transfers to be made free of IHT. In this article we look at how the election operates and when it should be made...
Non doms are already subject to the £30,000 and £50,000 tax charge for claiming the remittance basis once they've been UK resident for 7 years (or 12 years for the £50,000 charge). Last weeks Autumn Statement included a couple of nasty amendments to these rules. In this article we look at the changes and the tax planning opportunities available to non-doms...
Using overseas trusts can be effective particularly for non UK domiciliaries considering purchasing foreign property. This article looks how and when non UK domiciliaries could use an offshore trust to purchase foreign property tax efficiently....
There have been some significant changes to the tax treatment of non UK domiciliaries who claim the remittance basis and use loans on offshore assets. In this article we look in detail at the changes...
Non doms who claim the remittance basis of tax will usually lose the benefit of the UK personal allowance unless they have overseas unremitted income of less than £2,000. HMRC have however confirmed that there is one additional case where an individual could be entitled to claim the remittance basis but still qualify for the UK personal allowance. This arises when you are UK resident but also treaty resident overseas. This article looks in detail at this exemption...
Non doms have some significant benefits when it comes to using offshore trusts over other UK residents. In this article we look at the tax benefits of offshore trusts that apply to non UK domiciliaries and how they can utilise offshore trusts tax efficiently...
It's not just non doms subject to the remittance basis who need to be careful in remitting overseas income and gains. Any non doms with foreign income or gains that arose before April 2008 and which was retained abroad would also be taxed on remittances. In this article we look at the tax position if remittances are made in error. Is this still classed as a remittance of the income/gain or will HMRC take an equitable approach to this?...
HMRC have changed their practice relating to the remittance basis as it applies to loans secured on overseas income/capital gains. In this Practitioner Zone article we look at the impact of the recent changes in detail...
Following a post from one of our members, in this article we've looked in detail at the tax implications of non doms investing in offshore funds, and the tax treatment of offshore income gains....
For any non doms looking at ways to hold assets abroad without being liable to the £30,000 or £50,000 annual charge, identifying overseas investments that don't crystallise income can be crucial. This article looks at the pros and cons of offshore investment bonds for non UK domiciliaries....