Tax Planning For Temporary Non Residents In 2013/2014

Leaving the UK for a short period of non residence can be an attractive option particularly if there are significant tax benefits to doing so.

In the past leaving the UK to crystallise capital gains, extract income from UK companies or remit foreign untaxed income were popular tax planning strategies.

Unfortunately there are a number of potentially nasty anti avoidance rules that can catch people moving abroad for short periods, including a 5 year non residence requirement for CGT purposes. These rules are being extended and amended from 6 April 2013.

In this book we look at just what UK tax advantages you can obtain by becoming non UK resident before taking a detailed look at the current anti avoidance rules in place and the new rules applying from April 2013 including the changes to the current 5 year non residence requirement.

Subjects covered include:

Precisely what UK tax benefits you can obtain by becoming non UK resident

How the anti avoidance rules target anyone moving overseas and looking to avoid UK income both before April 2013 and after

How the 5 year non residence requirement for capital gains tax works

...And how this rule is changing from April 2013

How to take advantage of the split year basis if you're temporarily non resident

A detailed analysis of the special anti avoidance rules that apply to non doms who become non resident

Tax planning for anyone becoming non UK resident covering all of the main taxes including:

- Income tax

- CGT

- Corporation tax

- Inheritance tax

Timing issues for Non Doms arriving or leaving the UK

Specific planning opportunities for non doms returning to the UK and maximising the benefit of the remittance basis