March 7th, 2017 / Insight posted in Practical Guides

Non-doms – Benefits of being a short-term resident

From 6 April 2017, anyone resident in the UK for 15 years or more will be regarded as deemed domiciled for income tax, capital gains tax and inheritance tax. Currently, anyone resident for 17 out of the last 20 years will be deemed domiciled in the UK for inheritance tax purposes only. Despite these changes, there are still potential tax advantages and choices for those who are resident in the UK for less than 15 years from April 2017. These rules are summarised in the attache document and should be read alongside our document “Domicile for UK tax purposes”.