http://www.taxresearch.org.uk/Blog/2008/03/12/this-one-is-going-to-cause-some-fun/ Richard Murphy on tax and corporate accountability Wed, 03 Dec 2008 06:52:40 +0000 http://wordpress.org/?v=2.6 http://www.taxresearch.org.uk/Blog/2008/03/12/this-one-is-going-to-cause-some-fun/#comment-397017 Phil Packer Wed, 12 Mar 2008 20:44:57 +0000 http://www.taxresearch.org.uk/Blog/2008/03/12/this-one-is-going-to-cause-some-fun/#comment-397017 Don't the rules apply already to non-domiciled people? What used to be s 739 has always successfully tracked UK source income to non-domiciled transferors, with offshore income being subject to what is effectively a remittance basis. The good news is that it is plain from the Budget Notes that offshore trusts will be alive and well for avoiding UK capital gains tax, what a climbdown that is by this left wing government. Don’t the rules apply already to non-domiciled people? What used to be s 739 has always successfully tracked UK source income to non-domiciled transferors, with offshore income being subject to what is effectively a remittance basis. The good news is that it is plain from the Budget Notes that offshore trusts will be alive and well for avoiding UK capital gains tax, what a climbdown that is by this left wing government.

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