UK Social Security retirement and Us tax returns
#16
BE Forum Addict
Joined: Apr 2011
Location: The Shire
Posts: 1,117
Re: UK Social Security retirement and Us tax returns
Non-domiciles:
The £30,000 annual charge for non-domiciles who have lived in the UK for seven years will increase to £50,000 for non-domiciles who have been resident for 12 or more years.
In return, and to encourage investment in our country, the tax charge when non-domiciles remit foreign income or capital gains to the UK for the purpose of investing in a British business will be removed.
The government will also introduce a statutory residence test.
http://www.direct.gov.uk/en/Nl1/News...11/DG_WP195609
I don't know if this is still on the cards, or not.
#17
Re: UK Social Security retirement and Us tax returns
The charge only applies to those who elect to use the remittance basis. Most non-domiciled persons, except those with very high levels of income or wealth, will generally prefer to pay tax on the same basis as any other British citizen/resident.