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Article: TAX PLANNING: Birth of a notion.(effect of domicile on tax determination)
- Article from:
- Money Marketing
- Article date:
- December 14, 2006
CopyrightCOPYRIGHT 2006 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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How is a person's domicile determined and how does it affect their tax status?
Having looked at the principles of residence and ordinary residence for UK income tax and capital gains tax purposes, it is now important to consider the even more permanent status of domicile.
An individual is normally domiciled in the country which he regards as his home. He is born with a domicile of origin, which is the place where he was born or the domicile of his parents. However, this can be displaced by the acquisition of a domicile of choice once he is 16 or over although it will be revived if the domicile of choice ceases to exist.
An individual ...