This course aims to provide a thorough grounding in the principles of residence and domicile for UK tax purposes and also considers some planning opportunities available for those leaving the UK and those coming here. The course covers UK tax law and practice on residence and domicile and discusses particular planning areas such as capital gains tax. It also briefly reviews tax issues involving offshore trusts, the relevance of double tax treaties, compliance issues on arriving in or leaving the UK, any recent and relevant changes to UK tax law and practices in this increasingly complex and compliance driven area of HMRC tax practice.
Residence and Domicile and the Statutory Residence Test/Rules
Review of current rules
Automatic UK residence/Automatic overseas tests/Leavers and arrivals – UK ties?
HMRC practices and procedures
Recent and historic case law decisions of relevance
Available concessions and current HMRC practices
Possible impacts of the HMRC “Digital Taxation” project in the future?
Concepts of domicile of origin, choice and dependency
Introduction to the remittance basis
IT and IHT differences
The introduction of the “Deemed Domicile” rule from April 2017
Income Tax Rules
Leaving and arriving in the UK
Capital Gains Tax
Selling UK and non-UK assets
Capital gains and non-resident landlords from April 2015
Planning issues for non-resident and non-domiciled individuals
Status of assets and excluded property
Use of trusts and timing issues
WHO SHOULD ATTEND
All those involved in the planning opportunities available for those leaving the UK and those coming here. This course should appeal to tax advisers, accountants and tax practitioners who are asked to advise their clients or their businesses’ employees on the tax implications of leaving the UK or coming to the UK. In particular anyone who is involved regularly in helping advise or assist clients or employees with their tax affairs on leaving or arriving in the UK should benefit from this course.