Non-Domiciled Individuals & Expatriates
Your non-UK Domiciled status can affect significantly your tax liability in the UK. Being a UK Tax resident and being regarded as a non-UK domiciled person can provide you with significant tax advantages.
If you are moving to the UK or investing in the UK you should carefully consider your domicile status and ensure that you have the best structure in place before your arrival, in order to minimise your future tax liability.
By being regarded as a non-UK Domiciled individual, the remittance basis of taxation (with careful planning) allows you to shield your foreign income and gains from UK Tax, if these are not remitted or enjoyed in the UK. This leads to significant tax savings for foreign investors or individuals coming to reside in the UK.
The rules are extremely complex, and it is strongly advisable that to avoid facing an unexpected tax liability appropriate professional advice is being sought before arriving to the UK.
How can we help?
If you are a non-domiciled individual coming or already settled in the UK, we can advise you on:
- Your domicile and residence status.
- How to organize your overseas assets and investments before coming to the UK, but also after settling in the UK, to avoid causing an unnecessary tax charge.
- Optimizing your tax situation in the upcoming year by providing you contemporary advice in accordance to the tax law in force and your specific circumstances.
- Advice and compliance in relation to Overseas Workday Relief for inbound expatriates
- Temporary Workplace Relief Advice (for employees seconded to the UK).
- Dual Employment Contracts Issues & Anti-Avoidance rules advice.
For more information on tax for non-domiciled individuals, please contact us.