DOMICILE AND RESIDENCE

You may not actually live in this country,but you will be liable for full tax here unless you take certain step to make sure that the inland Revenue knows you are no longer resident.this has an effect on the U.K.income,capital gains and capital transfer tax that you will have to pay.Your domicile is the place you regard as your natural home.You can only have one domicile,unlike nationality where you can sometimes have two.Most people are domiciled in the country where they were born.But you can have a domicile of origin,of choice,or of dependency.Residence is different,and is fixed from year to year depending on where you are,and you can be regarded as being resident in two countries at the same time.This depends mainly on where you spend most of the year,or where your'place of abode'is.Residency applies not only to individuals but also to companies.All these questions are very complicated,so if you contemplate living abroad or keeping one home here and another one abroad consult an accountant to ensure that you do not pay too much tax.If you wish to live abroad permanently,here are some of the ways of proving that you are doing so:*Live there. *Buy a house there,or rent one on a lease. *Start a business from there. *Marry someone from there. Schooling there.