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Domicile is the main factor in determining the UK IHT taxability of clients. Their current residence is insignificant. That means clients can be resident abroad, but their entire estate will still be due to IHT in the UK should they die. At 40% this is crucial to know! Domicile is also important for UK residents who are not UK domiciled as there are several beneficial tax advantages. Knowing where your clients are domiciled and when that domicile changes is therefore obligatory knowledge to add to your advisory skill pool.

In this session Megan Saksida will cover the following topics;

• The three types of common law domicile
• The four types of deemed domicile
• The “tails” that keep individuals UK deemed domiciled even when they are no longer UK resident
• The “tail” that keeps individuals UK common law domiciled when they are no longer UK resident

By attending this session, you will be able to recognise whether a client is UK domiciled and whether this is by common law or deemed domicile, how long that domicile will last and the implications of their domicile.

This session will be of particular interest to Tax advisors, Accountants advising clients on tax, anyone in the capacity of a personal representative in a death estate.

Course Level: Intermediate / Advanced