Non-dom tax planning

Non-dom tax planning – Tax saving advice for non-domiciles


 
UK tax legislation draws a distinction between residence and domicile. This distinction creates extraordinary tax planning opportunities for anyone whose domicile is not the UK (i.e. Non-Dom). Whether you are non-dom or not is relatively complex area and depends on a number of factors; however if your heritage is non-UK you may be deemed non-dom even if you have resided in the UK all your life.

What does this mean?

If you are non-dom you pay tax on the ?remittance basis? which means you can avoid paying UK tax on non-UK income and assets subject to certain conditions. In some instances you can even reduce your exposure to tax on UK based assets. Of course the rules are very complex and there are a number of restrictions and steps to follow. However with high quality bespoke tax planning it is possible to significantly reduce and defer the tax liabilities for you and your families.

How can you help me?

Norton Accountancy work hand in hand with a very experienced boutique firm of specialist non-dom tax advisers to deliver highly effective tax planning advice for non-doms. Through this strategic partnership we are able to offer cost effective and highly innovative bespoke strategies that are robust and can significantly reduce and defer your tax exposure. Most of the structures have the benefit of pre-clearance from HMRC which offers complete peace of mind. We do not offer highly aggressive, high risk take your money and run tax strategies.

Typical services we provide for non-doms include:

  • CGT and Trust planning
  • Personal tax planning
  • Corporate tax planning
  • Property structuring
  • Inheritance planning
  • Business disposal / Exit planning
  • Tax Compliance
  • Remittance based charge planning

How do I find out more?

Please get in touch on 0203 102 4185 or email london@nortonaccountancy.co.uk