UHY Hacker Young - Action needed by non-domiciled UK residents claiming the remittance basis

From 6th April 2008 significant changes have been made to the way non-domiciled UK residents are taxed.

Previously, all non-doms were free to claim the ‘remittance basis’ of tax without charge which meant that their non-UK income and capital gains were only taxed when and if they were remitted to the UK. Now, however, if you are a non-dom and have been a UK resident for seven or more of the last nine years, you will need to pay a ‘remittance basis charge’ (RBC) of £30,000 for each tax year in which you wish to claim the remittance basis.

For more information on the best course of action for you please download our Taxflash - Action needed by non-domiciled UK residents claiming the remittance basis.

Published on 10 February 2009

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