How to advise expats and inpats: part three

Just like for those leaving the UK, the tax position of non-domiciles moving to the country on a permanent basis is important to consider. If you are non-domiciled and reside in UK for the first seven years you can avoid tax on all overseas income provided it is not remitted into the country. Retaining capital offshore can continue to accumulate tax free. After seven years, non-doms can elect whether to retain their non-domiciled status and keep assets offshore, without having to pay tax but will have to pay £30,000 a year remittance charge. Otherwise if they do not want to pay t...