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  • Tax - Election for foreign losses
    Election for foreign lossesIf you are non-UK domiciled but tax resident here, you may claim the remittance basis. To receive any kind of relief for foreign losses, an election must be made, but this shouldn't be done without careful consideration.DomicileIf you are UK resident, but not domiciled or deemed domiciled, then the availability of foreign losses depends on the basis of taxation you use. If you are using the arising basis, you are treated like any UK domiciled resident, and can claim relief for foreign...
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  • Tax - Election to be treated as domiciled in the UK
    Election to be treated as domiciled in the UKWhere a married couple or civil partners consist of a UK domiciled individual (UK-dom) and a non-UK domiciled (non-dom) individual, there is a restriction on the amount that any transfers between them will benefit from the spouse exemption for inheritance tax (IHT). An election can be made to be treated as a UK-dom for IHT purposes.Transfers for non-UK domiciled spouseAny transfers between two UK spouses are exempt and will not be subject to IHT. Where there is a...
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