An individual who is both resident and domiciled in the UK is taxable on their worldwide income and gains.

In contrast, a resident but non-UK domiciled individual is only liable to tax on income and gains that arise in the UK and any foreign source income that is remitted to the UK.

It is therefore possible for non-doms to avoid tax on all overseas income and gains, provided it is left outside the UK. This is called the remittance basis but it comes with a cost for those who are or become resident in the UK for at least seven years.

However new rules announced in the summer Budget will effectively end non-dom status for certain individuals.

Advisers need to urgently review their clients’ non-dom situation and start making plans now.

When the changes outlined in the summer Budget come in from April 2017 there may be some people who are caught by the change to the deemed domicile timescales immediately, so clients need to be prepared. Assets need to be structured in the right way.

This guide will look at current rules for people who fall into this bracket; how the taxation rules for non-domiciled individuals are set to change; and what are the planning options for these clients.

Supporting material produced by Neil Walker, global head of tax at deVere Tax Consultancy; Neil Jones, technical manager at Canada Life; Rachael Griffin, financial planning expert at Old Mutual Wealth; Roger Harding, tax director at Gordon Dadds and Cathy Russell, tax and estate planning consultant at Canada Life.