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Non-domiciled

Term

A person living in the UK but their permanent home isn’t in the UK, they have certain tax advantages.

If:

You won’t need to pay UK tax on foreign income/gains

If the income is >£2,000 then:

Remittance basis - when you don’t pay UK taxes on earnings from abroad unless you transfer the money into a UK bank account, so you’ll only be taxed on UK income/gains you make and foreign gains brought to the UK.

Note: you’ll lose your tax-free allowances for Income and Capital Gains Tax and you’ll have to pay an annual charge to maintain the non-domiciled status.

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