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UK resident services in Switzerland
Working with your advisors to find the best solutions
As a resident non-domiciled (RND) individual, the UK’s tax regime may sound simple: You pay no UK income tax or capital gains tax on your non-UK offshore income and gains unless you remit them to the UK. But the law is both complex and evolving. Benefiting from it is extremely time-consuming.
As the wealth manager of choice for UK RND individuals, we work with your tax and legal advisors to find the most efficient and legally compliant setup of your offshore banking and investments.
How it works
The UK tax system looks at both residence and domicile to determine an individual's liability to taxation. Although now only accessible if you’ve been a 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 don’t pay UK income and capital gains tax on your non-UK assets unless you remit the income or gains to the UK. Tax on UK assets will need to be reported annually.
There’s a cost attached to opting for the remittance basis. It amounts to:
- GBP 30,000 for individuals resident in the UK for at least 7 of the past 9 tax years
- GBP 60,000 for those resident for at least 12 of the past 14 tax years
As an RND individual, you aren’t subject to inheritance tax on non-UK situated assets until you’ve been a resident for 15 of the previous 20 years in the UK.
Your benefits
Tax efficient
We help you effectively manage your wealth tax and benefit from tax advantages for RND individuals. To help you prepare your tax return, we can provide a detailed income, gains and loss report upon request.
Dedicated wealth planning
Our RND teams help you achieve your goals for your wealth and recommend new investment opportunities as they arise.
Stable and reliable
Give your wealth a great chance of growing in one of the world's most politically and financially stable countries.
Annual review
Stay on track with a yearly review of your financial setup. We’ll ensure your solutions are performing well and that they match your current situation, goals and needs.
Your options
Our diverse backgrounds in banks, legal and accountancy firms and trust companies means we’re experts in understanding you and your wealth. With our years of experience assisting RND clients, we’ll help you choose the right solution and clearly explain your various options.
RND investment planning: Benefit from our expertise and ease in navigating the world of RND compliant investment strategies.
Trusts: An offshore trust is a well-known and widely accepted succession and tax planning tool. As a UK RND individual, you may benefit from inheritance tax advantages by settling your non-UK situs assets into an "excluded property trust." There may also be income and capital gains tax benefits, depending on the terms and beneficiaries of your trust.
Offshore bond: An offshore bond is a life assurance-based wealth planning solution that combines well-established tax treatment with an investment portfolio tailored to your needs. You can switch investment funds and strategies in the bond whenever you like – free of charge and without incurring a tax liability.
Multi-account setup: As a UK RND individual on the remittance basis, you can optimise the tax you pay on the money remitted to the UK by keeping separate accounts – combined with booking instructions to precisely identify the origin of the invested assets.
Income segregation: To optimise the benefits of the remittance basis, you may wish to only invest in assets that allow income to be fully segregated. For example, any income element should be separately identified and can be additionally, under UK tax laws, segregated.
Our solutions
UBS Advice™
UK RND
You decide on your investments, while benefiting from weekly monitoring of risks in your portfolio. We’ll also contact you when necessary, including suggesting improvements to your investments.
UBS Advice™
Premium UK RND
You receive proactive investment proposals from your client advisor or Active Advisor. You also benefit from regular monitoring of your portfolio, and receive active and prompt notifications of risks – all while you make the decisions on your investments.
UBS Manage™
UK RND
You benefit from UBS’s full investment capabilities and expertise in one personalized solution. You have the full flexibility to change your selections, investment strategy and investment amount at any time.
UBS Manage™
ADVANCED Systematic
Allocation Portfolio UK RND
You benefit from a rule-based portfolio solution designed for clients who like to avoid risk in volatile markets, and wish to limit exposure to equities during downturns. The solution aims to reduce portfolio risk in strongly downward trending and volatile equity markets.
Why UBS is your right partner?
The price and value of investments and income derived from them can go down as well as up. You may not get back the amount originally invested.
UBS does not provide tax or legal advice. You should consult your independent tax/legal advisor for specific advice before entering into or refraining from entering into any services or investments.
