W.G. Hill Books, Underground Knowledge, Offshore Banking and Investing
Page: 2017 Non-Dom Tax Reform for British Expats

Expat Investing - ‘Non-Dom’ Reforms For British Expats

2017 UK Resident Non-Dom Tax Reform

The arena of expat investing is nothing if not varied! The febrile international markets, coupled with convoluting legislation around the world as governments try and tighten their grip on the world’s money means that there is always something new going on. This is particularly the case right now if you have British citizenship. The uncertain climate surrounding Brexit, coupled with a general move to stop money flowing out of the UK has seen a few ‘non-dom’ reforms fly through the House Of Commons - with the result that ‘Non-Dom’ Brits (i.e. British expats) will now find their offshore investment landscape looking rather different.

../images/London-city-Big-Ben.jpg
New 'non-dom' tax reform bill, that was put on hold in April 2017, could make significant tax status
changes for the British expats who are officially not domiciled in the UK. (photo by Pixabay
)

It’s worth noting that the recent and unexpected General Election in the UK has left the Finance Bill containing these changes rather up in the air. Changes meant to be implemented in April 2017 have been put on hold during campaigning, and are currently delayed. Whether they go through at all, and whether or not what we eventually get is the same as what was initially proposed, remains to be seen, but it’s worth learning about them nonetheless. Here’s a quick primer:

‘Non-Dom’ Tax Rules For UK Expats

British expats looking to secure their finances by buying property abroad (and registering themselves as living there) will soon be hit by ‘Non-Dom’ taxes. This isn’t to say that buying property abroad is no longer a good move if you’re a British resident - land and property is nearly always a sound investment. However, it may be wise to look for ways to secure those investments, and make them work to offset the tax. Here’s how it’s going to work:

What this means, essentially, is that a British expat can no longer avoid being taxed on money they earn in the UK by registering themselves as non-resident. So, while property abroad remains a sound investment from a basic financial point of view, it’s harder to use such properties as ‘tax havens’. Not impossible, but harder. It’s also likely that tax rules concerning property in the UK will tighten around British expat properties held abroad, insofar as the British government can do this without falling afoul of local legislation. It’s probably worth looking carefully into said local legislation, therefore, if you’re a British expat looking for property abroad.

It’s also worth noting that the British government is bringing British properties held by foreign companies under its taxation umbrella, so those who hold property in Britain may wish to have a look at this.

British Expats No Longer Exempt From Inheritance Tax

As it stands, British citizens registered as Non-Dom can own UK properties via an offshore company, trust, or other structure are not liable to pay inheritance tax on that property. However, the proposed Finance Bill has effectively closed this loophole. When the proposals come into effect, British citizens will be liable to pay both Inheritance Tax and the new Annual Tax On Enveloped Dwellings (ATED), whether these are held offshore or not. Legislation being brought in will allow UK authorities to ‘look through’ any company shares or structure to the expat beneath, and tax accordingly. Capital gains charges may also apply to those who want to unravel or obfuscate these structures.

This does not mean, of course, that it is going to be impossible for UK expats to avoid inheritance tax on UK assets and properties. However, some restructuring may be required in order to do so. British Non-Doms will also have to be much more careful about preserving their Non-Dom status if they wish other financial perks (income tax remittances, for example) to remain in place. Of course, the state of affairs in Britain is anything but clear at the moment, so whether any of this comes to pass remains to be seen. However, for those concerned about this, the General Election has given a window of opportunity for people to get their houses in order, and set a taxation gameplan in place.

  The World of Investing - Investment Tips and Ideas
../images/Investing-money-120.jpg
Basics of Investing Your Money
../images/Music-records-120.jpg
Collectibles Worth Investing In
../images/Trading-cryptocurrencies-120.jpg
Cryptocurrency Business Ideas 
../images/Funds-investing-120.jpg
Guide to Investing in Debt Funds
../images/Should-you-invest-120.jpg
Investing in Penny Stocks
../images/Brexit-uncertainty-for-investors-120.jpg
Investing in UK After Brexit
../images/Watching-investments-120.jpg
Investment Options for Beginners
../images/Investments-watch-120.jpg
Investment Trends to Watch
../images/Expat-investing-120.jpg
Investor Protection for Expats
../images/Return-on-investment-120.jpg
Low Risk High Return Investments
../images/London-city-Big-Ben-120.jpg
Non-Dom Reforms for British Expats
../images/Real-estate-investment-120.jpg
Overseas Family Led Investments
../images/Offshore-oil-platform-120.jpg
Price of Crude Oil and Stock Market
../images/Protecting-your-assets-120.jpg
Protect Investments in Bankruptcy

Home
BBBB
   Bye Bye Big Brother Black Book
   Bye Bye Big Brother CD ROM
   Bye Bye Big Brother Package
   Citizenship Residency Requirements
   Confidential Communication for PTs
   Paper PT An Important Concept
   What Is PT All About
PT
   The American Expatriation Guide
   Become an Honorary Diplomat
   Brazil and Paraguay Confidential
   Campione Confidential
   ESCAPE by Grandpa
   Instant Legal Residence Abroad
   The Invisible Investor
   Latvia Confidential
   The Monaco Report
   Panama Confidential
   Perpetual Traveler
   PT4 Grandpas Special Collection
   Portable Trades and Occupations
   The Second Passport Report
   Think Like a Tycoon
   WG Hill PT Collection
Bye Bye Big Brother
BBBB Free Chapter
Investing
   Basics of Investing Your Money
   Collectibles Worth Investing In
   Cryptocurrency Business Ideas
   Guide to Investing in Debt Funds
   Investing in Penny Stocks
   Investment in UK After Brexit
   Investment Options for Beginners
   Investment Trends to Watch
   Investor Protection for Expats
   Low Risk High Return Investments
   Non-Dom Reforms for British Expats
   Overseas Family Led Investments
   Price of Crude Oil and Stock Market
   Protecting Investments in Bankruptcy
Finances
   All About Commercial Lending
   Bankruptcy As A Solution
   Banks Don't Need Your Money
   Basics of Business Branding
   Blockchain Impact on Business
   Business Cloud Software
   Business Financing Sources
   Divorce and Finances Abroad
   Fund Your Small Business
   Hire Business Plan Consultant
   Learn About Finance Online
   Manage Business While Travelling
   Solve Cash Flow Problems
Forex
   Forex Trading Courses
   Automated Trading System
   Use Basic Tools for Trading
   Best Forex Books for Beginners
   Binary Options Straddle Trades
   Binary Options Strategies
   Blade Runner Trading Strategy
   The Camarilla Equation Formula
   Day Trading vs Swing Trading
   Elders Force Index Strategy
   Top Forex Trading Platforms
   The Gartley Pattern Chart
   Finding Good Forex Broker
   Forex Fundamental News
   Forex Market in Currencies
   Forex Markets Trading
   Forex Trading Account
   Forex Trading Beginner Tips
   Forex Trading Explained
   Forex Trading Worldwide
   International Currency Trading
   Most Profitable Forex Indicator
   Picking Right Forex Software
   Retracement Levels in Flats
   The 38.2 Retracement Level
   Stochastic Oscillator in Forex
   STP ECN Trading Model
   Support and Resistance Forex
   Safe Haven Currencies
   Successful Trader Traits
Offshore
   5 Benefits of Antigua Passport
   Costa Rica Offshore Corporation
   Dubai Offshore Banking
   Offshore Outsourcing Tips
   Stress Factors of Expatriates
Property
   The 10 New Bali Project
   Hottest Real Estate Markets
   Real Estate Investment Online
   Return on Property Investment
   Smart Real Estate Investments
   Technology and Real Estate
   Ways to Invest in Real Estate
Wine
   Business of Investing in Wines
   Fine Wine as Loan Collateral
   Investing in Wine in Australia
   Start Wine Trading Business
Expat
   BBBB Abridged Book
   The Gold Report
   Offshore Banking Guide
   Offshore Road to Riches
   PT2 The Practice
   VIP Divorce Kit
IWL
   The Invisible World
   Invisible Banking
   High Yield Investments
   High Yield Investments 2
   Future Wealth
   Financial Crisis
   The Offshore Investment Guide
Underground
   Underground Knowledge 1
   Underground Knowledge 2
   Underground Knowledge 3
   Underground Knowledge 4
   Scams and Fraud
Money
   Alan Greenspan's Housing Bubble
   America's Oversized Deficits
   April Job Losses the Lowest
   Bank of America Bonus Payments
   Bank Stress Test Results
   Banks Stress Tests Flawed
   Bank Stress Tests Questions
   Banks Financial Trickery
   Canadian Oil Companies
   Card Issuers Meet Obama
   China Detroit's Lifeline
   China Taiwan Investment Accords
   China's Yuan Carry Trade
   Ciena Corp Recommendation
   Credit Default Swaps
   Elliott Wave Disciple
   General Motors Savior
   How to Buy Banks
   India's Slow Growth
   Japan's Lost Decade
   Long-Short Investing Strategies
   Money Morning Bank Stress Test
   Oil Prices Could Jump
   Russia and China Energy Deals
   Russian Economic Model
   Small Caps Proven Profitability
   Solar Energy Comeback
   Sustained Economic Recovery
   World's Reserve Currency
Articles
   Online Transactions Survey Findings
   Millionaire Mindset Charateristics
   Real Estate Investing in Panama
   Strategies for Achieving Success
Seminars
   New Orleans 2015
   Casey Summit 2015
   Antigua Conference
   Recipes for Success
   Cancun Seminar
   Panama Seminar
Newsletter
Quotes
Updates
About
Contact
Links