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Tax Risk - New UK 'Non-Dom Proposals' – The Implications and Opportunities

Following UK Government consultation ‘Reforms to the taxation of non-domiciles issued on 30 September 2015  a further consultation paper was published on 18 August 2016 in which it has outlined revised changes that include:-

• The tax treatment of long-term residents in the UK who are foreign domiciled and
• More draconian rules for persons who were born in the UK but who acquired a foreign domicile of choice while living overseas.

These changes will also affect offshore trusts settled while an individual was non-UK tax resident and are likely to be introduced from 6 April 2017 and they will present challenges and opportunities for such individuals as well as their advisers.

The presentation will include a thorough background of the new proposals (which are significantly different [modified] from those published in the UK Government Technical Briefings of 8 July 2015) and also cover some planning opportunities which may present themselves.

Event details

• Speaker - Tim Keeley
• Firm - Numera Partners LLP
• Why you should attend
  • The UK Govt changes are likely to be introduced from 6 April 2017, and they will present challenges and opportunities for long-term residents in the UK who are foreign domiciled and their advisers.
• Workshop topics
  • The presentation will include a thorough background of the new proposals which are significantly different from those published in the Government Technical Briefings of 8 July 2015 and also, cover some planning opportunities which may present themselves.’
  • Current rules for taxing non-domiciles
  • Deemed UK domiciles for long-term residents
  • Born in the UK with a UK domicile of origin
  • Consultation questions
  • Draft legislation
• Target audience
  • TCBs
  • Tax advisers
  • Etc.
• Timings
  • 16th September 2016
  • 10.30 am – 12.30
  • 90 minutes, plus 30 minutes for questions = 2 hrs CPD
• Venue
  • 08 Hill Street Executive Offices - Amarillo Room
  • http://08hillstreet.com/ to see the pictures

Tim Keeley Bio

Tim Keeley’s tax career began in 1972 when he joined the former Inland Revenue as an inspector of taxes after graduating from Bristol University.  He acceded to private practice in 1987 and Numera Partners LLP in 2012.

Tim is a member of the Society of Trust and Estate Practitioners and a Fellow of the Chartered Institute of Taxation.  He regularly advises not only clients of Numera but also other professional firms and trust companies.  He provides lateral solutions to problems in a no-nonsense manner, and his coverage of UK personal tax and the taxation of non-UK domiciled individuals is extremely broad.

Tim also advises on the tax affairs of private clients and family businesses.  He is married with an adult son and lists his interests as cycling, reading history (for pleasure) and the occasional glass of wine