Residence, Domicile and UK Taxation
Published on 17 November 2006 at 06:52 pm
Filed under: Home » Shelter Offshore Books » Offshore & Tax Planning Books » Residence, Domicile and UK Taxation
We felt it was incredibly apt to publish the ShelterOffshore review of The Right Honourable Denzil Davies’ latest publication, ‘Residence, Domicile and UK Taxation’ in light of the recent ruling by The Special Commissioners relating to HM Revenue and Customs rules about residence.
Denzil Davies’ book was published by Tottel in September of this year and so it is completely up to date with full analysis of recent rulings and amendments to the rules as laid down by HMRC – this means that it is the most important reference book available at this time for anyone involved with the international taxation planning strategies of those who have any connection with the United Kingdom whatsoever.
As HM Customs and Revenue’s residence and domicile rules are unique to the United Kingdom and are laid down for interpretation they can be amended at any point in time and interpreted differently depending on certain specific actions taken by individuals to whom the rules apply but who HMRC believe are bending the rules to maximise their own advantage for illegitimate taxation avoidance reasons.
If such a situation arises HMRC will review a case in detail and refer it to The Special Commissioners for judgement – and judgement almost always results in the person or entity against whom a ruling was made going to prison or facing substantial back tax payments. Because of this very fact it is imperative that those involved in international taxation planning strategies as well as those who make use of the non-domiciled or non-resident or not ordinary resident statuses for the mitigation of the taxation burden, understand the correct interpretation of all HMRC rules to the letter.
There is the potential for misinterpretation, there is the potential for over zealous interpretation and there is the potential that those who get it wrong will face legal proceedings against them which is why The Right Honourable Denzil Davies’ latest publication, ‘Residence, Domicile and UK Taxation’ is so important.
The book lays out the rules in no uncertain terms, ambiguity is removed, where there is doubt on a point the author clarifies it or at least points out the likely interpretation of it from a legal standpoint and therefore those who read this book, fully familiarise themselves with the rules within the book and the ways to make the most of the rules in the book with benefit most from the generous HMRC rules which, if not abused, legitimately protect those who are not resident or domiciled in the UK from excessive taxation.
This book is a must read reference tool for accountants, tax planners, lawyers and those who believe they have the right to legitimately avoid UK taxation. Click here to order ‘Residence, Domicile and UK Taxation’ securely online from the publisher.
Page 1 of 1
Recent Articles
Taxation of Offshore Trusts and Funds