Hi HMRC community,
Are Australians eligible for the UK non dom program and electing for the remittance based taxation?
I’ve had mixed responses from accountants, some say it’s possible others say it’s not. The argument against it is that it conflicts with Australia’s definition of domicile.
My intention is to go for the uk youth mobility visa (3 years) then transition to a work visa after this. I will also purchase a home and setup banking and all other necessary ties to the UK. As the UK does have a dual tax treaty with australia, and I will be a resident there, the definition of domicile and taxation laws in the UK should take precedence from what I understand?
My main foreign income when I’m living in the UK will be from Australian and other non UK shares via dividends and capital gains. Australia has a withholding tax on dividends from Australian shares of 15%.
Would greatly appreciate any help with this as I’ve been scouring the web for info and I really want to understand this correctly before making such a big decision to relocate