Residency & domicile
How we can help with residency and domicile
Liability to UK taxation depends on an individual’s residence, ordinary residence and domicile.
HM Revenue and Customs (HMRC) have extensive powers to charge interest and penalties for avoidance or incorrect declaration of income and gains for tax purposes. Understanding the differences between where you are resident and your domicile status can be a major factor in making key declarations that will affect your liability to UK tax.
For those who have a permanent home or significant interests outside of the UK, or are coming to the UK, the implications for paying UK tax can be significantly affected by your tax status and residence position.
Our experienced tax team offers a comprehensive service based on our deep understanding of the complex rules surrounding residence and domicile. We help you determine your UK tax residence under the Statutory Residence Test (SRT) and advise on the most tax-efficient way to manage your foreign income and gains, including the application of the remittance basis for non-domiciled individuals.
We also assist with split-year treatment when you commence or cease UK residence, ensuring you meet your UK tax return obligations accurately and on time. Whether you are a UK resident individual or a non-resident landlord with UK residential property, we can advise on your capital gains tax liabilities and inheritance tax planning.
For more information on residence and domicile, and how to optimise your tax position in line with the new rules, contact us.
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