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Non-UK tax residents 'must be careful'
People seeking to get the most out of their offshore tax planning have been advised that they may need to be more careful about how they designate themselves as non-UK tax residents.
The comments follow the case of Robert Gaines-Cooper, a businessman who was based in the Seychelles but unsuccessfully appealed against a ruling that decided he was officially a resident in the UK for tax purposes, the Times reports.
Matthew Woods, a partner at Withers, said that the commonly-held belief that spending 90 days or less in the UK may not be true and the safest way is to "leave and sever as many links as possible".
One alternative, suggested by Stephen Herring of accountants BDO, is to move to a country with a beneficial tax regime and a double tax treaty with the UK.
Mr Gaines-Cooper may be facing a tax demand for £30 million after his non-dom status went unrecognised by UK tax authorities.
Posted by Jon Cummins.
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