Test your understanding
(1). Explain whether the following statements are true or false in respect of Jay who is neither resident nor domiciled in the UK.
A Jay will not be subject to UK IHT.
B Jay will be subject to UK CGT on the disposal of a building situated in the UK.
(2). Explain whether the following statements are true or false in respect of Chough who is both resident and domiciled in the UK.
A Chargeable gains on the disposal of assets situated outside the UK will be subject to UK CGT.
B Rental income in respect of a property situated outside the UK will only be subject to UK income tax if it is remitted to the UK.
Answers
