The inheritance tax (IHT) exempt amount a UK-domiciled individual can transfer to a non-domiciled spouse or civil partner is to be increased.
There is currently a lifetime limit of £55,000 on the value of the assets that can be transferred free of IHT when the spouse or civil partner to whom the assets are transferred does not have a UK domicile.
New rules to be introduced in Finance Bill 2013 will raise the cap to the level of the prevailing nil-rate band.
Advisers may need to drop clients in the aftermath of the Mehjoo case
A prospective client was born in London but was domiciled in Poland. He moved to Poland 20 years ago and started a business, but this has now been sold and he plans to return to the UK. The client’s possible domicile status is discussed
Unlike the question of residence, which is largely factual, determining domicile commonly requires an investigation of the historical circumstances and future intentions. The domicile status of a taxpayer, whose Indian parents emigrated to the UK in the 1940s without intending to return, is examined
A non-UK domiciled but resident client has used the remittance basis since 2008/09 and made an election under TCGA 1992, s 16ZA. Remittances have been made to the UK from a mixed offshore fund
New online tool should be approached with caution, says tax barrister
A non-domiciled UK resident was claiming the remittance basis and paying the annual charge, but died in December 2012. His widow has received a UK pension scheme lump sum
The wording of the US/UK estate tax treaty has some confusing terminology
Untangling remittance basis concepts relating to the income and capital gains of non-domiciled clients
An examination of the statutory residence test in the Finance Bill
Work still has to be done on the the statutory residence test to provide certainty
Tax system is hostile to rich individuals, claims law firm
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