With proposed new measures relating to non-UK domiciled individuals (non-doms) due for release by HMRC on 14 June 2011, accountancy firm KPMG is urging non-doms to give thought to their UK investment strategies sooner rather than later.
One of the measures is a new relief for nondoms who remit foreign income or gains to the UK for the purpose of commercial investment in UK businesses. "It can take time to change investment strategies, non-doms who wish to take advantage of this change may want to start thinking about this now so they are in a position to act quickly when the final changes are announced," explains KPMG in its latest private client newsletter. Currently non-doms are likely to incur a tax charge on the remittance of foreign income or gains to the UK and consequently many have structured their investm...
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