The UK tax regime for individuals who were born in the UK with a UK Domicile of Origin who return to the UK has changed even if such an individual has acquired a Domicile of Choice overseas. The new rules introduced in Finance (No.2) Act 2017 were implemented with effect from 6 April 2017 and affect all Formerly Domiciled Residents.
This is in addition to the rule (the “Fifteen Year Rule”) affecting long-term residents, i.e. those who have been UK resident in at least 15 of the immediately preceding 20 tax years who will also be deemed domiciled for all tax purposes from the Effective Date.
Read a copy of our Briefing Note entitled “Issues for those born in the UK with a UK Domicile of Origin who become Resident in the UK – Formerly Domiciled Residents” to find out more.