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Posted Wed, 05 Jun 2024 21:42:58 GMT by Alex
Hi, I am reading the change and have some questions based on the current information. My background, I use BNO and arrived UK in June 2022 and I am not using "remittance basis", I report all my oversea income now. My questions are: 1) The new 4 years rule should cover my tax period of 6/4/2025 - 6/4/2026. So is that mean any of my oversea income in this period doesn't need to pay tax? 2) Once this new rule effective on 6/4/2025, can I claim back any tax (if any) that I may pay in past 3 years? 3) It said "If an individual chooses to be taxed under the new 4-year FIG regime, they will lose entitlement to personal allowances and the capital gains tax annual exempt amount." So that's mean if I use this new method? All my income in UK need to be taxed, even my only income is only bank interest and it's, for example GBP500 only? 4) If I understanding correctly, currently Inheritance tax for overseas property, assets, money will only apply when individual become domicile? And individual need to live in UK for over 15 years to become domicile? Any change of this after 5/4/2025? I don't quite get it. Many thanks!
Posted Fri, 07 Jun 2024 16:19:08 GMT by HMRC Admin 20 Response
Hi 
Detail on the Government’s intended changes to the rules for non-domiciled individuals set out here Technical note: Changes to the taxation of non-UK domiciled individuals.   
HMRC is unable to provide any further detail on how these changes will apply to an individual’s personal circumstances at this time. 
Thank you.

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