JZM2WC
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Non domicile while on spousal visa
I’ll be moving to the UK with my British husband while he is doing his PhD in London. I’m born in Malaysia and all my family ties etc are all in Southeast Asia. I’ve acquired Singapore citizenship myself recently as this has been home for us in the last 12 years. We are intending to return here in the future as well as his work resolves around research in the south east Asia region. I believe that I qualify for claiming non dom status according to the flowchart on HMRC website but I’ve been advised I will be domicilliary by choice because of my visa. Are you able answer this? Regards, Daniel -
Tax on foreign income from derivative trading
I have some trading activity in Singapore but I will be moving back to the UK in the next year or two. I've got 3 question with regards to this. 1. Do I need to close the trading account and remit the fund back to reopen another trading account in pound sterling? 2. Can I continue trading with my current account in Singapore and report tax on arising basis? Will this be easier to file? 3. Will this falls under the jurisdiction of income tax or capital gain tax? Thanks Regards, -
RE: Foreign Income tax with double taxation.
Thank you for your reply. I will be a statutory tax resident in the Uk as I will be staying in the Uk for more than 183 days per year. If I’m claiming remittance basis, do I still have to declare all my overseas income to the HRMC? Regards -
Foreign Income tax with double taxation.
I will be moving to the UK next year with my husband as he studies his PhD. He is a British citizen but won't be having a full time job during his studies. I currently work for an online company that is based in Singapore where I'm currently a tax resident. I will be keeping my job even when I move to the UK and receiving salaried income in Singapore. I have some insurance investment, government bonds and other stock and shares that I hold during my stay in Singapore. I would be consider as non domiciled for tax purposes as we don't have any fixed plan to remain in the UK after his studies at the moment. The main questions that I have area as follows : 1. Does my position fall within the scope of double tax treaty? If so, do I need to also report on all my trading income from stocks / shares / dividends etc in Singapore? From my understanding, Singapore tax will be a flat rate of 22% as I'm non resident. 2. Do I need to declare all my assets prior to moving to the UK? 3. If i choose not to remit these salary income to the UK and live off our existing savings while my husband does his PhD, can I just claim remittance basis for the salary that I receive in Singapore? I would very much appreciate your input on this matter as I've tried several tax account on this and they've all come up with different versions of their answer. Thanks Regards, Daniel