Non-Doms, Non-Residents and Overseas Wealth
As your connection to the UK increases, either through your personal circumstances or by the length of your residence in this country, the likelihood is your liability to UK tax will increase, either as you need to bring money into the UK or if you can keep your money out of the UK, then through the remittance basis charge becoming payable.
The steps you can take as a Non-Dom will depend on your circumstances. Planning before your arrival in the UK can result in a significant advantage. All is not lost however if you are already resident in UK.
Our experience and specialist advice is focussed on helping Non-Doms navigate the complex UK tax rules, especially those relating to whether or not you are domiciled in the UK, the remittance basis for Income Tax and Capital Gains Tax and the excluded property rules for Inheritance Tax, thereby reducing your exposure to tax in the UK.
And even if you are not a Non-Dom, you might be Non-UK Resident, and so understanding your exposure to UK tax is important, in respect of your wealth situated in the UK as well as the reach of the UK tax system to your overseas wealth.