We've released another couple of articles on Capital gains tax and Non UK domiciliaries These articles look at the position of non UK domiciliaries buying a property in the UK, as well as the case where they are selling an overseas home after they…
The latest 2006/2007 tax return contains a number of subtle changes to the layout and the type of questions asked. This follows a few high profile decisions on non UK residence and non UK domicile issues, and is part of the revenue keeping a closer…
A few people have contacted me asking about gifted payments. These cases are usually a case of a person making a cash sum to another by way of a gift. Of course if it's a genuine gift there should be no UK tax on the receipt. But in some cases…
If you're a UK resident buying property overseas it's important to consider the UK tax implications. Your domicile status will be of key importance as if you're a non UK domiciliary you'll be entitled to claim the remittance basis for overseas income…
Site members can view the new Domicile Checklist . If you are looking to lose your UK domicile status you need specific courses of action that you can follow. Unfortunately actually getting this kind of specific detail out of tax advisers can be…
Non UK domiciliaries are subject to the remittance basis of tax. This means that they're only taxed to the extent that income or proceeds are actually brought into the UK. Therefore when looking at the position of foreigners living in the UK, the…
We've had a few e-mails on this so it's well worth looking at. I'll ensure that a separate article is prepared on this. When looking at the tax implications of buying overseas property you'll need to firstly look at your residence and domicile…
Whether a company is UK resident or not can be very important for UK and offshore tax planning purposes. Not only does a non UK company get an exemption from many capital gains, but it's also exempt from UK tax on overseas income. In order to decide…
The benefits of non UK residence status are frequently talked about. However aside from just obtaining an exemption for overseas income (which is the main benefit that people know) what is there? Well this article: Using Non UK Residence status to…
Most people are aware of the remittance basis of tax that is available for individuals who are UK resident but non UK domiciled. This allows wealthy foreigners to avoid significant income and capital gains tax charges by retaining income and proceeds…
Using offshore companies and trusts to reduce taxes is of interest to a lot of overseas investors. The difficulty is obtaining sound, reliable information at an affordable cost. Usually you'll need to take account of both the UK (if you're Uk…
If you're looking to avoid CGT when you sell Uk or overseas assets, you'll find plenty of articles on this site covering this. Examples include: Emigration to avoid CGT Avoiding the five year rule for CGT avoidance Should you own an overseas company…
There's no exit charge for individuals leaving the UK, but this doesn't mean that you can completely ignore CGT when planning to leave the UK. You'll need to consider not only your planned disposals but also any deferred gains that may have arisen…