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Alien concept

10 June 2008 / Malcolm Gunn
Issue: 4162 / Categories: Comment & Analysis , Residence & domicile
MALCOLM GUNN FTII, TEP offers help for clients pleading, 'no tax please, we're not British!'

KEY POINTS

  • Establish to what extent your clients are affected by the new regime
  • Claiming the remittance basis may not be advantageous
  • Will it be possible to keep remittances to the UK to under £2 000?
  • Breaking out of the seven out of nine year pattern
  • Most trusts will not need to be reconstructed

A wife once boasted to her husband 'My father always gives something expensive when he gives a present'. 'Yes' he replied 'I soon came to realise that after he gave you away'.

What the Chancellor served up last year for non-domiciliaries with the new remittance basis rules was no doubt intended to be very expensive for them as well but following the initial announcement a bizarre tale of hopes raised hopes dashed and hopes...

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