Your guide to understanding domicile

What is it and why is it so important?

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Domicile is an important concept to consider whenever you are tax planning, and especially if you have ties in the UK and overseas.

Domicile ultimately defines whether or not you’ll be caught in the UK Inheritance Tax net, and likely to face a possible, and substantial, 40% tax charge on your UK (and even worldwide) assets.

There are other consequences too. All the while you’re UK tax resident, your exposure to UK Income Tax and UK Capital Gains Tax is ruled by your domicile status.

Understanding domicile, and how it affects your wealth, is a crucial step in any solid financial plan. This guide is here to help.

If you have any questions about what you should do next, please get in touch.

Download your guide to understanding domicile.

This article is distributed for educational purposes and should not be considered investment advice or an offer of any security for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable but is not guaranteed.

Past performance is not indicative of future results and the value of investments can fall as well as rise. No representation is made that the stated results will be replicated.