Major changes in the UK tax treatment of non-domiciled individuals may have significant implications for US citizens resident in the UK. Considerably more work is likely to be required in both evaluating the options and in preparing their UK and US tax returns, resulting in potentially higher tax liabilities and professional fees.
Please see the retention of US citizens resident in the UK for information on:
- implementing the changes;
- short term residents;
- longer term residents;
- paying the £30,000 levy;
- worldwide basis of assessment;
- treaty relief for dual residents;
- information for spouses.