Why would you invest with UBS in Switzerland if you are a resident non-domiciled (RND) individual?
Optimising your tax
The UK tax system looks at both residence and domicile to determine an individual's liability to taxation. Although now only accessible if you have been resident for no more than 15 out of 20 years in the UK, an RND individual can benefit from various tax advantages.
You can, for example, claim the remittance basis of taxation for income and capital gains tax. This means that you will not have to pay UK income and capital gains tax on your non-UK assets unless you remit the income or gains to the UK, although tax on UK assets will need to be reported annually. If you have been UK resident for more than 7 of the last 9 tax years, you should note that there are annual charges to pay if you wish to claim the remittance basis which are currently £30,000 after 7 of 9 years' residence, rising to £60,000 for 12 out of 14 years.
In addition, as an RND individual, you will not be subject to inheritance tax on non UK situated assets until you have been resident for 15 of the previous 20 years in the UK.
How can we help?
UBS in Switzerland can assist with the implementation of your planning, working with you and your tax and legal advisers. You will have one of the world's leading wealth managers looking after your money in a politically and financially stable country and you will be supported by our dedicated RND teams working out of the cities of Zurich, Geneva and Lausanne.