2008 Changes continued
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Displaying Matches 1 thru 16 of 35 Found. NEXTLAST
It's often thought that most of the benefits of non dom status cease to apply if a non-dom claims the arising basis. This is certainly not the case. This article looks at how non doms can still make use of offshore trusts to avoid UK tax whether they claim the arising basis or the remittance basis of tax....
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....
The £30,000 or £50,000 RBC is a significant sum for many non doms and arranging your affairs to ensure you won't have to pay this additional tax charge is crucial. This article looks at whether you can hold overseas investments via a company to avoid it....
Non UK domiciliaries who have been UK resident for more than 7 of the last 10 tax years will be subject to the £30,000 remittance tax charge, if they claim the remittance basis. This Practitioner Zone article looks at when it's worthwhile claiming the remittance basis and in particular the 'breakeven' levels of overseas income or capital gain required....
Remitting overseas capital is a common question both in our tax forum and our online Q&A service. This article looks at exactly what overseas capital is and how non UK domiciliaries can use the rules to remit overseas cash free of UK tax whether they choose the arising basis or the remittance basis after April 2008. It also looks at the rules applying to mixed funds....
There's plenty of advice to non doms who are subject to the remittance basis of tax to avoid 'remitting' income or gains but what exactly does this mean? This article looks at the general rules and impact of the court decisions that apply in this area...
Non Doms are entitled to numerous UK tax benefits. After 6 April 2008 many of these benefits may have been reduced but they are still there! This article looks at non doms living in the UK but working overseas, and in particular how they can take advantage of their special tax status to reduce UK tax...
As requested by one of our members we've looked through the latest Finance Act and compared this with the previous Finance Bill that was issued at the beginning of the year. We've focused on the changes to the remittance basis and have had to go through both versions with a fine tooth-comb to highlight the changes....
Where you have retained cash balances within a company, it's important to be able to access the cash tax efficiently. This is particularly the case if you've left the UK and want to extract the cash whilst non UK resident. This article looks at extracting cash from companies if you're UK resident or non UK resident...
Any non doms coming to live in the UK should carefully consider their position in terms of both income and capital gains that could arise overseas. This article looks at some tax planning steps and opportunities that all non UK domiciliaries should be considering before coming to live in the UK...
If you want to know when you should and when you shouldn't invest in overseas property through an overseas company read this article. Fully updated for the changes applying after April 2008 it goes through how you can purchase overseas property and pay the minimum in capital gains tax and income tax....
Non doms subject to the remittance basis will be looking at opportunities to benefit from overseas income or gains without triggering the remittance rules. This article looks at one specific opportunity in connection with the exempt property rules. In particular whether non doms could 'have their cake and eat it' by raising debt over exempt assets and accessing overseas income free of UK tax...
Offshore trusts and companies are potentially very attractive in reducing UK income tax. The downside are the anti avoidance rules that apply. If you're caught by them the UK tax benefits are in many cases eliminated. This article looks at how the anti avoidance rules apply in 2008....
The Revenue won't typically consider your domicile status unless it's relevant in determining an immediate tax liability. This article looks at one option for establishing non UK domicile after April 2008....
This article looks at the current status of the provisions and exactly what you can do to minimise your tax bill. It considers how the £30,000 tax charge operates, the potential planning areas and the strategies you could put in place to avoid it....
Entrepreneurs relief is effectively the successor to business asset taper relief and can provide for an effective tax rate of just 10% on certain qualifying disposals. Given this highly attractive rate of tax many non UK domiciliaries will be wondering whether they could qualify for it. This article explains when property developers could qualify....