The residence and domicile conditions

In order for the pre-owned asset tax to apply to the individual for any tax year, they must be resident in the UK during that year, see the Residence ― overview guidance note.

Where the individual is UK resident but is domiciled outside the UK (before 6 April 2025), or is UK resident but is not a long-term UK resident (6 April 2025 onwards), the pre-owned asset tax applies only if the asset is situated in the UK.

Before 6 April 2025, any property in an excluded property settlement (that is property outside the UK settled by a non-domiciled settlor)