Tax changes bring advantages to UK resident Irish domiciles

The recent pre-Budget report in the UK has become known for its proposals to change the income tax and capital gains tax rules as they apply to UK residents domiciled elsewhere, writes Gerry Brown, tax and trusts manager at Prudential International. However, there was one group for whom the changes offered the prospect of a tax advantage. UK resident Irish domiciled individuals had not previously been able to take advantage of the remittance basis of taxation where income, whether from investment or employment, arose in the Republic of Ireland. These restrictions in the way the remittan...