A-Day toremember

A unique aspect of the UK tax system is its approach to taxing non-UK domiciled individuals who are resident in the UK on their foreign income, gains and assets, and this approach is extended to the treatment of offshore pension schemes set up for such individuals. Prior to A-Day, a non-UK domiciled employee in receipt of 'foreign emoluments', that is, working for a non-UK employer but seconded to a UK company, could remain a member of an overseas scheme if HMRC accepted the overseas scheme 'corresponded' to a UK approved scheme. If it did there was a process by which the scheme would be g...