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Long-term residents and inheritance tax on UK residential property.
A further consultation on the reforms to the taxation of non-domiciles has been published. It covers several areas.
First it updates the proposal consulted on in September last year that will deem long-term residents as UK domiciled for tax purposes once they have been resident in the UK for 15 of the previous 20 years. In this latest document the Treasury responds to comments arising out of that.
Second it responds to the proposal (also consulted on in September) to treat an individual as deemed-domiciled in the UK for tax purposes when they are living in the UK if they were born here and had a UK domicile of origin. In essence the Treasury says it intends to legislate the reforms as set out in the initial consultation document.
Third the consultation sets out the detail of proposals to charge inheritance tax on...
