Domicile Reviews

If you live or work in Singapore, or have significant worldwide assets, one of the most important factors to consider when tax planning is your domicile.

Domicile is a legal concept that tends to apply to your ‘homeland’. It’s a fairly adhesive concept and generally applies to the country where you consider your roots to be. Domicile is acquired at birth and is generally determined by your father’s domicile or homeland. It’s a separate tax consideration than your nationality, residence or citizenship and is not automatically reflective of the country you are currently living in.

Your domicile matters because it determines your exposure to UK tax, most notably Inheritance Tax (IHT). It is important to understand your domicile status as it can have a significant effect on your tax position. For example, if you are living overseas, and have done for many years, you will still have to pay IHT on your worldwide assets if you have a UK domicile.

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All you need to know about Domicile reviews

What is a domicile statement?

A domicile statement is essentially how you define your domicile. This statement will provide evidence and justify your domicile status.

What should be included in a domicile statement?

Professional help should be sought to determine your UK domicile status and with the drafting of a domicile status. Amongst other things, a domicile statement should include the following:

  • Personal details of the individual, such as place of birth, and periods of residence in other countries
  • Connections to their country of domicile – such as family, financial and social ties
  • Details of their assets
  • Commencement date of UK residency/residency in an overseas country
  • Circumstances in which the individual is likely to leave their country of residence and/or return to their home country

How do you prove your domicile?

You generally acquire a domicile of origin in a country when you are born and that usually follows your father’s domicile status. If you have changed your domicile of origin you must clearly demonstrate the following:

  1. You are permanently settled in your new country of domicile
  2. You intend to stay there for the remainder of your life
  3. You have no clear remaining ties with your domiciled country of origin and cannot envisage any circumstances where you would ever live in that country again

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