Where you stand with tax
Why not see how Barclays Wealth can help you plan your finances around your resident non-domiciled tax status?
A 'resident non-domiciled' person is a description of someone's UK tax status. Broadly speaking it describes someone who lives in the UK but has an origin in another country and does not intend to remain in the UK.
The amount of tax you pay may be different if you are resident non-domiciled and the government announced changes in the 2008 budget may impact you.
Now certain resident non-domiciled individuals who have lived in the UK for seven of the past ten years are required to pay £30,000 a year if they wish to be taxed on a 'remittance' basis and not automatically pay tax on their worldwide income and capital gains. The budget contained other detailed provisions which you may also need to be aware of.
Once you are clear on your tax status you will need to establish if the best approach for you is to pay the £30,000 charge. How you plan your finances and what you will invest in will have an impact on this.
Barclays Wealth does not provide tax advice, but we can put you in touch with tax experts at Ernst and Young, who will help to clarify your tax position for you. We can help you with the products and financial services that best suit your needs.
How we can boost your financial opportunities home and away
- We can help you plan your finances in a number of ways
- We can locate your day-to-day bank accounts in the Isle of Man, giving you the full functionality of UK day-to-day banking and also offering you the flexibility to receive interest gross
- We provide a comprehensive range of wealth management solutions in various currencies for international clients, various deposit accounts, and a choice of UK and non-UK locations for your investment assets
- Whatever your circumstances, Barclays Wealth has the expertise to grow your wealth, with personal financial services tailored to your exact requirements
You have sole responsibility for the management of your tax and legal affairs including making any applicable filings and payments and complying with any applicable laws and regulations. We have not and will not provide you with tax or legal advice and recommend that you obtain your own independent tax and legal advice tailored to your individual circumstances.
Next steps...
Give us a call on +44 (0) 141 352 3986† or we can call you back.
Legals
† Lines are open 9am to 5pm Monday to Friday local time . Call charges may vary. Please check with your local telecoms provider. Calls may be recorded for training and security purposes.
Barclays are not tax experts and treatment of taxation depends on individual circumstances and may change in the future.
The products and services described on this page are provided by the following companies, which are part of Barclays Wealth: Barclays Bank PLC in England and Wales, Barclays Private Clients International (Gibraltar) Limited in Gibraltar and Barclays Private Clients International Limited in the Isle of Man, Jersey and Guernsey. For further Information on these companies and Barclays Wealth please read the
Important Information.
Products and services on this site may not be available in certain jurisdictions. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important Information before proceeding. Each Barclays Wealth company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.
