Careless non-doms risk HMRC tax 'traps' - KPMG

By 31 January, UK resident non-dom taxpayers have to notify HM Revenue & Customs (HMRC) of any tax for which they are liable. They will have to decide whether to claim the remittance basis - keeping their offshore profits outside the UK tax net - or to pay UK tax on their worldwide income or gains. For those living in the UK for seven or more years, they also have to pay the £30,000 fee if they want to use the remittance basis. The revised tax rules for non-dom taxpayers living in the UK have been in place since 2008, but this is the first time the rules will really have an impact...