Non-Domicile Tax

Non domicile tax planningStop-Press

Long-term non-doms – Summer Budget 2015 changes

From April 2017, the Government proposes that anybody who has been resident in the UK for more than 15 of the past 20 tax years will be deemed UK-domiciled for income, capital gains and inheritance tax purposes. In addition, it will no longer be possible for somebody who is born in the UK to parents who are UK-domiciled to claim non-domicile status if they leave but then return and take up residency in the UK.

Once the non-dom who has become deemed-domiciled under the 15-year rule leaves the UK and spends more than five tax years outside the UK they will at that point lose their deemed tax domicile. If they then return to the UK for a period, but still intend eventually to leave the UK and therefore remain foreign-domiciled under general law, they will be able to spend another 15 years as a UK resident for tax purposes before becoming deemed- domiciled again.

The residence rules changed significantly in the UK from April 2013. They now depend on where you have been the past 3 years and what you do in the current personal tax year and the number of ties you have with the UK. We can advise on what status you want to achieve to reduce your UK tax bills and help generally with non domicile tax planning

We can help with getting a non resident landlord number for those investing in UK property on an investment visa basis and help you get your investment visa sorted in the UK.

We can advise you on reducing your UK tax on both lettings and any business profits.

Who are they For?

Taxless has on its team individuals who are used to dealing with Investment Visas for clients from Russia and the other ex Soviet Union States. Members of our team speak Russian, Ukranian and Bulgarian for those who are not confident in speaking English.

We also deal with other clients from the EEC, Australia, Canada, New Zealand, South Africa or elsewhere who are not UK Domiciled and/or resident but have business and/or property interest in the UK and need to submit a UK tax return.

Indicative Fees

We will do residence reviews or hold meetings from £150+ vat to discuss tax issues with individuals not domiciled in the UK.We will do personal tax returns incorporating UK letting income and other income for non domicilary persons from £500+ vat per annum. Fees for other activities will be provided upon request after review of scope of work involved.