HMRC have published a new approach to looking at an individual’s domicile in Inheritance Tax matters.
From now HMRC will only consider opening an enquiry in which domicile could be an issue, where there is a significant risk of loss of UK tax. They will use a wide range of factors to assess the risks. For example, the information available on the department’s databases. The potential costs involved in pursuing an enquiry will be factored in as well as litigation costs.
Enquiries into domicile usually involve a detailed examination of personal information and evidence about the taxpayer and their close family.
Lynam Tax domicile specialists have decades of experience in dealing with tax residence and domicile issues.
*Call Paul Lynam today for an initial free, confidential, no obligation, discussion: 0845 643 9997 or Andrew Nutbrown on: 07718 778710