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I am non-UK domiciled and use a long-effective structure to remit funds to the UK tax free. Can’t I simply elect to pay the £30k annual charge and carry on as before?

April 26, 2017domiciled Free funds non-UK remit structure tax UK

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I am non-UK domiciled and use a long-effective structure to remit funds to the UK tax free. Can’t I simply elect to pay the £30k annual charge and carry on as before?

1 Answer

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No, the proposed changes are likely to affect all existing structures, and simply paying the £30k annual charge will not allow you to continue as before. All current structures should be reviewed in light of the proposed new rules.