The government has proposed reforming the rules concerning the taxation of UK resident non-domiciled individuals from April 2012.
Since April 2008 a non-UK domiciled individual who has been resident in the UK for 7 of the last 9 years and who claims the benefit of the remittance basis of taxation has had to pay the annual long term residents charge of £30,000.
The government’s proposals include increasing the current annual charge of £30,000 to £50,000 for non-domiciled individuals who have been resident in the UK for 12 or more tax years.
It is also proposed to remove the tax charge when non-domiciled individuals remit foreign income or capital gains to the UK for commercial investment in UK businesses.
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