Personalised Portfolio Bonds and UK Situs Assets

Personalised Portfolio Bonds are taxable for UK residents based on the T&Cs of the policy permitting such investments rather than the underlying investment.

UK OEICS, Unit Trusts and GILTS are excluded property for UK IHT when owned by non-UK domiciled individuals. However, the exclusion does not list UK: equities, fixed interest securities investment trusts, bank/ deposit accounts and ETFs.

The IHT nil rate band is available to everyone regardless of domicile, follow this link for information.

Treasury consultation on a statutory definition tax residence

An interesting article from Citywire on the proposals from HMRC with regard to imposing a statutory test for tax residency.

Non-Resident? Non-domicile?

The Telegraph's Ian Cowie on the need to update the tax system to cope with issues of residency and domicile.

Tax exiles under the spot light.

The recent Gaines-Cooper ruling brings tax residency in to question.