UK non-domicile resident tax status

Hi

Been through all the UK gov literature on this and as an Irish citizen living in the UK I'm eligible to only pay tax on foreign income/gains made outside of Ireland/UK remitted to the UK.

What I'm not 100% about is whether that foreign income/gains would have to be made in a country that had no or little tax on the income/gains in the first place due to Taxation Treaties.

So say I made gains in a US brokerage account and kept them there to compound and didn't remit to the UK where I was resident as an Irish non-UK domiciled citizen how would tax treaties affect me?


Cheers
R

The UK have some very complex rules on Domicile and being taxed on the remittance basis. There are some harsh restrictions if you claim the remittance basis.

You really need to look at your full situation before a choice is made as to whether or not to claim the remittance basis. In a lot of cases it may be better to be taxed in the UK on the arising basis and get tax credits for foreign taxes paid - but it all depends on your specific circumstances.

Also, the remittance basis can now applies to Irish income - the rules changed in the last few years.

You should get professional advice on this.

www.taxingtimes.ie