Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

From Russia...

07 April 2015 / Mark Davies
Issue: 4495 / Categories: Comment & Analysis , International , Residence & domicile
davies

Revised visa rules have implications for non-doms’ tax liabilities

KEY POINTS

  • The tier 1 (investor) visa rules can have UK tax implications.
  • The relaxation on “topping up” rules can reduce taxable remittances to the UK.
  • Do not overlook the tax and residence rules in the taxpayer’s home country.
  • Recent tax changes discourage corporate ownership of private residences.
  • The implications of shareholdings in foreign companies.

Sergei is domiciled in Russia. He is a shareholder and director of a British Virgin Islands company which owns interests in Russian companies.

In turn Sergei sits on the board of directors for these companies. He intends to spend more than six months each year in the UK and the rest between Russia and Cyprus where he will holiday. He also plans to buy a substantial family home in London.

Sergei is worried about...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon