Non-doms will be able to remit income and\/or Capital Gains Tax free for the purpose of commercial investment in UK\u00a0businesses.<\/p>\n
This saves the tax that would have otherwise been payable on the amounts remitted.\u00a0Following a consultation this will establish what investments will qualify, but in general this is designed to encourage those who want to live and invest in the UK.<\/p>\n
The remittance basis charge increases from \u00a330,000 to \u00a350,000 for non-doms who have lived in the UK for 12 years. There will be no other substantive changes to the tax regime for non-doms for the remainder of this Parliament.<\/p>\n
Removing the tax charge on remittances for those investing in the UK is aimed at encouraging more investment. A further consultation document will be published in June. However, it\u2019s still unclear whether other countries (particularly the US) will accept the remittance basis charge as a tax charge and so creditable against tax liabilities incurred on the same income in those countries.<\/p>\n","protected":false},"excerpt":{"rendered":"
Encouraging those who want to live and invest in the UK Non-doms will be able to remit income and\/or Capital Gains Tax free for the purpose of commercial investment in UK\u00a0businesses.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/1208"}],"collection":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1208"}],"version-history":[{"count":0,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/1208\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suretyfp.com\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}