With effect from 06 April 2017, non-domiciled individuals in the U.K. are subject to significant changes in the way their UK tax affairs are dealt with from an Income Tax, Capital Gains Tax and Inheritance Tax perspective.

The impact of these changes could mean that, income, gains on asset disposals and inheritances previously outside the scope of U.K. tax will now become taxable in the U.K.

For those individuals based in the U.K. who need to address their change in circumstances, Ireland may offer a viable alternative solution.

Non domiciled individuals in Ireland can currently avail of the Irish remittance basis of tax for non-Irish income and capital gains. In addition, with appropriate planning, exposure to Ireland’s gift tax and inheritance tax rules can be managed if one is a non-Irish domiciled individual.

With less than six months to go before the U.K. rules come into effect, you should strongly consider Ireland as an attractive alternate jurisdiction to continue benefitting from your non-domiciled tax status.

We look forward to hearing from you and would welcome the opportunity to work with you and your UK advisors on developing and implementing an efficient plan.