UK resident non-domiciled tax status?

Banking services for UK resident non-domiciled clients, with Barclays Wealth International

If you are a domiciled non-resident i.e your roots are in the UK but you are living abroad (often referred to as an 'expat') - we offer worldwide banking services with the security of a familiar name.

We provide a safe home for your money and can also help the UK domiciled make the best of the tax efficiency that can come from being non-resident for tax purposes.

Being clear about your tax status means less time having to deal with the tax authorities, as well as potentially more favourable treatment of your income and capital gains tax liabilities. We can't advise you on your tax status, but we can introduce you to a leading international financial services firm, Ernst & Young, who are our preferred tax-advice partner.

There is also the sensitive matter of inheritance tax liabilities to consider. Here, Barclays Wealth International can help with advice on estate and asset planning once your tax advisers have helped you map out your personal tax strategy.

Apply now for a Barclays Wealth International bank account before you move to the UK, and Barclays Wealth International will give you the opportunity to earn a fixed 3% AER/Gross* on your sterling savings and a fixed 2.5% AER/Gross with US Dollar & euro deposits. The New Client Term Deposit** offers this competitive rate on balances of £10,000-£250,000 (or currency equivalent) with no withdrawals during the 12 month term. Interest is paid upon maturity of the deposit.

You can also call us on +44 (0)141 352 3986^†, or use our call back service.

Definition of domicile

Your domicile is generally regarded as the country where your roots are, or where you would like them to be. It is not necessarily determined by your nationality or passport status.

When you are born you will have a domicile of origin, which is usually defined by the domicile of your father when you were born. Once you have reached the age of maturity, which is usually either 18 or 21, you can change it as you are then able to establish a domicile of choice.

The only constant is that you are allowed just one domicile at a time.

Tax for non-residents

Residence - and non-residence - can be determined by your intent when arriving or settling in or leaving the UK and the amount of time present in or outside the country, and whether you acquire or maintain a property here to live in. If you are in the UK for 183 days or more in a tax year then you are resident for UK tax purposes.

However, it is possible that you may be resident in the UK for a shorter time in a tax year and yet, because of the consecutive number of years in which you have been present, you may be deemed to have residence. For instance, spending an average of 91 days per tax year over four years means you will be considered resident from the following tax year. Similar but different complex issues can arise when you leave the UK to reside in another country.

Establishing clarity on domicile and residence is sometimes complex, which is why we at Barclays Wealth International are concerned that you obtain professional tax advice on this matter. We do not offer personal tax advice, but we can make an introduction to Ernst & Young, a leading international financial services firm, who can provide you with independent tax advice.

To arrange an introduction, call us on +44 (0)141 352 3986^†.

Banking services for non-residents

Once you have determined your tax status and strategy with the help of your tax advisers, we can help you benefit from tax benefits associated with offshore arrangements while providing the assurance of the familiar name of a large, trusted banking institution.

Offshore accounts for the domiciled non-resident can be located in London, Jersey, Guernsey, the Isle of Man, or Gibraltar - depending on which one is best for you.

Apply now for a Barclays Wealth International bank account before you move to the UK.

You can also call us on +44 (0)141 352 3986^†, or use our call back service.