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Non Dom Tax Saving Tactics
This popular guide explains the non-domicile tax rules in plain English. It also reveals exactly how you can use your special status to save thousands of pounds in income tax, capital gains tax and inheritance tax.
It includes all of the latest 2009/2010 tax changes and is completely up to date.
The non-domicile tax rules contain several important exemptions that allow non-domiciled individuals to keep money offshore and tax free or make tax-free remittances.
Combined with other UK tax loopholes, non-doms and their families can still hold large overseas bank deposits, share and property portfolios and holiday homes and pay very little or no UK tax.
What Information is Contained in the Guide?
Tax Saving Tactics for Non-Doms is absolutely essential reading for all non-domiciled people living in the UK. Subjects covered include:
- How to structure a 100% tax-free overseas investment portfolio.
- How to escape the £30,000 charge by gifting assets to your children.
- How every non-dom couple can save an extra £1,599.20 tax every year.
- How a couple with £80,000 in overseas bank accounts can completely avoid UK tax.
- How a non-dom with £200,000 invested in bank accounts, shares and property can also escape UK tax altogether.
- How to enjoy a tax-free holiday home in the sun.
- … including one couple with a £150,000 profit who will pay no capital gains tax.
- Why offshore bonds can help you avoid UK tax.
- … plus traps to watch out for.
- How married non-doms should split their assets to save more tax.
- Detailed analysis of when you should and shouldn't claim the remittance basis.
- A list of remittance loopholes that have now been closed.
- When you can use debit and credit cards to avoid the remittance rules.
- … plus new loopholes that allow you to save thousands in tax, including:
- the exemption for clothing, jewellery and expensive watches.
- the exemption that lets you save £400 tax when you spend £1,000 abroad.
- What you do and do not have to disclose to the taxman.
- Everything you need to know about the new £30,000 tax charge.
- How to enjoy a tax-free overseas pension when you retire.
- How non-dom employees are treated under the new rules.
- How non-doms can use offshore trusts to save tax.
- The tax saving benefits of offshore companies.
- How to convince the taxman that you and your children are non-domiciled.
- When it pays to become UK domiciled.
- How the £55,000 inheritance tax exemption for non-doms works.
- Why tax changes from 2010 may make claiming the remittance basis more attractive.
- List of non-dom FAQs and answers.
Click here to read the full contents listing and first 2 chapters of the book
About the Author
The author is Lee Hadnum LLB ACA CTA. Lee is a rarity among tax advisers having both legal and chartered accountancy qualifications. After qualifying as a prize winner in the Institute of Chartered Accountants entrance exams, he went on to become a Chartered Tax Adviser (CTA) and worked for Ernst & Young for several years. Lee is the author of several Taxcafe tax guides and a regular contributor to our popular online tax Question & Answer service.
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This comprehensive tax planning guide contains over 150 pages of income tax, capital gains tax, inheritance tax and business tax saving tips. Completely up to date (January 2010), it is essential reading for anyone who wants to cut their tax bill this year. How to Save Tax 2010 normally costs £19.95 but is FREE for Taxcafe customers.
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What Will I Receive?
- Tax Saving Tactics for Non-Doms - 126 pages of tax saving ideas. Professionally printed by one of the UK's leading book printers.
- A FREE optional PDF copy of the guide, emailed immediately. This means you can start saving tax just seconds after ordering!
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