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What is my domicile and why is it important for tax?

02.05.2019

Private Client

Domicile is a legal concept. It describes the country that you consider to be your home and where you ultimately belong. It is distinct from nationality, citizenship and residence. It is only possible to have one country of domicile at any given time.

 

Where am I domiciled?

Working out which country you are domiciled in can be complicated, and there are many factors which need to be considered. There are three types of domicile:

How does domicile affect my tax position?

You may be able to benefit from a number of UK tax advantages if you are resident but not domiciled in the UK including:

Your domicile status also affects the tax payable on your Estate when you die.

 

What is deemed domicile?

From 6 April 2017 new deemed domicile rules came into force.  These rules apply for all tax purposes where either:

  1. you were born in the UK, have a UK domicile of origin and are resident in the UK for 2017/2018, or later years, or
  2. you have been UK resident for at least 15 of the 20 tax years immediately before the relevant tax year.

It is important to understand your domicile status and how it affects your tax position.  Please contact Emma at CLKG for further details.

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