The SHOCKING Truth About Non Residents Tax Exposed in Labour 2024 Autumn Budget

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UK Tax on Non-Residents and Domiciles
Non-Residents:

Non-residents are generally only taxed on their UK income and gains, such as rental income and income from UK-based investments.
They do not pay UK tax on income and gains from sources outside the UK.
Non-residents may still be subject to Capital Gains Tax (CGT) on the sale of UK residential property.
Domicile:

Domicile refers to a person's permanent home or the country they consider their permanent residence.
A UK domiciled individual is subject to UK tax on their worldwide income and gains, while a non-domiciled individual (non-dom) is only taxed on their UK income and gains unless they choose to bring foreign income into the UK.
Non-doms can also benefit from the "remittance basis," where they are only taxed on their UK income and gains, plus any foreign income or gains that they bring into the UK.
Tax Implications for Non-Residents and Domiciles:

Non-residents must file a Self Assessment tax return if they receive UK income that is not taxed at source (like rental income).
Non-doms may have to pay an annual charge if they have been UK residents for a certain number of years and wish to use the remittance basis.
Inheritance Tax (IHT) applies to UK domiciled individuals on their worldwide assets and to non-doms only on their UK assets.

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