Non Dom Tax Saving Tactics
This popular guide explains the UK 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.
The non-domicile tax rules contain several important exemptions that allow UK 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:
- All relevant tax changes from the March 2012 Budget.
- How to structure a 100% tax-free overseas investment portfolio.
- How to avoid the £30,000 and new £50,000 remittance basis charges.
- How to save tax by gifting overseas assets to your children.
- How every non-dom couple can save an extra £1,599 tax every year.
- How a couple with £80,000 in overseas bank accounts can completely avoid UK tax.
- How a non-domiciled individual 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.
- How 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.
- When you should and should not claim the remittance basis.
- Why recent tax changes may make claiming the remittance basis more attractive.
- When you can use overseas debit and credit cards to avoid the remittance rules.
- 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.
- How to enjoy a tax-free overseas pension when you retire.
- The tax treatment of non-dom employees living in the UK.
- 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.
- Tax planning in reverse: When it pays to become UK domiciled.
- How the £55,000 inheritance tax exemption for non-doms works.
- Answers to common tax questions from non-doms living in the UK.
Non-Resident & Offshore Tax Planning
This unique tax guide shows you how to pay less income tax, capital gains tax and inheritance tax if you are non-resident or non-domiciled. It also includes a list of tax havens and countries that do not tax UK income. The new Statutory Residence Test is covered in detail, as well as how offshore companies and offshore trusts can be used to pay less tax.
Please click here for full details of this exciting new guide.