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The Handbook of Personal Wealth Management, 8th Edition by Jonathan Reuvid

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2.2

Taxation of UK-resident non-domiciliaries

PATRICK HARNEY, FORSTERS LLP

This chapter provides an overview of the UK tax treatment of UK-resident non-domiciliaries under the remittance basis of taxation. Despite significant changes to the rules in Finance Act 2008, the UK remains a fiscally attractive jurisdiction for well-advised non-domiciled individuals. Indeed, during 2011 the Chancellor announced a simplification of some remittance rules and some very welcome changes, to be effective from 6 April 2012, that permit resident non-domiciliaries to remit overseas income to the UK for the purposes of specified categories of business investment without triggering a taxable remittance.

Overview

UK-resident and domiciled individuals are subject ...

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