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5.0 out of 5 stars Tax Saving Tactics For Non-Dom's - Great Addition To A Wonderful Series, 2 Jun 2013
By 
im1rarebird (Jacksonville Florida) - See all my reviews
This review is from: Tax Saving Tactics for Non-Doms: The New Rules for Non-Domiciled Taxpayers (Paperback)
Lee Hadnum takes great care in explaining the ever changing tax laws, so much so that it is easy to understand by all. The UK taxation laws are extremely technical and to find a publication that breaks it all down to its simplest components is refreshing. Lee uses lots of different examples to help you gain a proper understanding of each principle presented. The books are updated each year so that you always get the latest tax law information.

There are a lot of people in the UK classified for tax purposes as non-domiciled, if they have businesses abroad as well as being a foreign national they cannot avoid paying UK taxes on income earned outside of the country. This is a very complicated law with many stipulations. Becoming classified as non-Dom is great but the money has to stay offshore, once it enters the UK you can be taxed on it.

The first half of the book explains who will qualify for this status. It is not as easy as it may seem and the book even explains that it may even be more advantages to claim UK domicile as opposed to being a foreign national. The UK recently put into law an anti-avoidance legislation that makes claiming non-Dom harder. This is also talked about in this book.
Hadnum explains how to structure a portfolio that is 100% tax free for foreign investments. This is one book that you would do well to have in your Lee Hadnum collection.
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4.0 out of 5 stars Clear and Informative Tax Information, 2 Jun 2013
This review is from: Tax Saving Tactics for Non-Doms: The New Rules for Non-Domiciled Taxpayers (Paperback)
For those with absolutely zero knowledge of tax and accounting Lee Hadnum's books are a reasonable starting point for gathering information on the subject; this particular book covers the issues faced by foreign nationals living in England and includes a discussion of overseas investment and British taxation, particularly for those attempting to prove non-domiciled status.

With a clear writing style Hadnum uses various examples of relevant court cases to compliment his explanations, highlighting the possible directionality and outcome of various tax related scenarios. He uses this book as an opportunity to refer to the most recent budget (April 2013) and discusses how legal changes brought in over the last ten years effect the eligibility of foreign nationals to various government benefits and financial subsidies including capital gains tax and interheritance tax.

The most helpful chapter in my opinion is the one dedicated to filling out a tax return, a daunting task for many of us; Hadnum takes the reader through the process in a clear and straight forward fashion.
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4.0 out of 5 stars Clearly Written, 31 May 2013
This review is from: Tax Saving Tactics for Non-Doms: The New Rules for Non-Domiciled Taxpayers (Paperback)
The main focus of this book is on foreign nationals living in the UK. It deals with non-domiciled individuals and shows that proving non-dom status is not always straight forward. The book cites many court cases where specific points regarding residency have been under consideration. It also gives tips on how to retain the non- domiciled status.
Major changes in the law since April 6th 2008 are discussed in some depth, and advice is given on how the changes affect the gain and loss of certain allowances.
Capital gains and inheritance tax are discussed and the book covers new rules from 6th April 2013.
This book is very clear in the advice and information that it gives, it is written in a matter of fact way and the author provides plenty of examples for the reader to learn from. There is even a chapter devoted to completing a tax return.
As with all his books Lee Hadnum states that the advice of a professional should always be sought - however, this book contains useful information for any non-domiciled person residing in the UK and looking to save money.
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5.0 out of 5 stars Totally clear, 23 May 2013
This review is from: Tax Saving Tactics for Non-Doms: The New Rules for Non-Domiciled Taxpayers (Paperback)
This is a great guide for non-domiciled UK taxpayers. It is well-structured, lucid and up-to-date. To the immense gratitude of those who have never studied these subjects, Hadnum explains the meaning of "domicile", and the three main types (domicile of origin, choice and dependency), with reference to the relevant case law. He carefully summarises the tax benefits of being non-domiciled, in terms of inheritance, capital gains and income tax, and does his best to clear up the muddy waters of "remittance" for various parties.

In later chapters, although these were less useful to me, I also learned about non-dom investment strategies such as deferred income, offshore bonds and tax-free overseas investment portfolios. Hadnum dealt with all of my potential queries in his FAQ section, and I couldn't recommend this book more highly.
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5.0 out of 5 stars Comprehensive, 22 May 2013
This review is from: Tax Saving Tactics for Non-Doms: The New Rules for Non-Domiciled Taxpayers (Paperback)
The tax rules for those who are not UK-domiciled (i.e. not legally resident in the UK) are in a state of contant flux. Hadnum's excellent book explains, in common sense terms and without jargon, how non-domiciled individuals can reduce their UK tax bills in the face of these changes.

I've never studied accountancy or law, so I came to Hadnum's book (and a couple of his others) as a novice. However, I now feel as though I pretty comprehensively understand the issues. I can already feel my wallet bulging. Of particularly high quality was chapter 8, on the closing of remittance loopholes. Acquaintances had advised me to exploit these, obviously based on out-of-date info. I learned that since April 2008, it has become far more difficult than it used to be for non-doms to bring money into the UK without it being taxed.

Be warned that "UK" doesn't (for the sake of taxation law) include the Channel Islands or the Isle of Man, so if you are liable to be taxed by those jurisdictions, you'll have to consult additional materials.
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