Deemed domicile ― rebasing for capital gains tax

Copyright © 2026 LexisNexis
Produced by a Tolley Personal Tax expert
Personal Tax
Guidance

Deemed domicile ― rebasing for capital gains tax

Copyright © 2026 LexisNexis
Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
imgtext

Introduction

Under rules that applied between 2017/18 and 2024/25 inclusive, individuals were deemed to be UK domiciled for tax purposes even though they have been non-domiciled in the UK under common law. The rules applied for income tax, capital gains tax (CGT) and inheritance tax (IHT).

Non-domiciliaries:

  1. •

    caught by the deemed domicile 15-year rule from 2017/18 may be able to rebase their foreign chargeable assets for CGT purposes as at 5 April 2017

  2. •

    had a one-off opportunity to clean up existing mixed funds, see the Remittance basis ― until 5 April 2025 guidance note

Whilst both these measures were good news for the non-domiciliary, they were not available for all non-domiciliaries, and the rules contained traps for the unwary.

This guidance note explores rebasing for CGT in detail. For a discussion of the broader rules as they apply to individuals, including the IHT changes, see the Deemed domicile for income tax and capital gains tax (2017/18 to 2024/25) guidance note. You are recommended to read that guidance note before

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™
TAKE A FREE TRIAL NOW
Powered by Tolley+™
  • 30 Jul 2026 10:10

Home/ Tolley Tax Guidance/ Personal Tax / Other supplementary pages

Popular Articles

Owner-Managed Businesses

Tax implications of administration and liquidation

Tax implications of administration and liquidationThis guidance considers the tax implications of a company going into administration or liquidation.Introduction to company administration and liquidationCompany going into administrationA company which is in financial difficulty may go into

14 Jul 2020 15:29 | Produced by Tolley Read more Read more
Owner-Managed Businesses

Repairs and renewals

Repairs and renewalsThe key consideration in determining whether expenditure on repairs and renewals is allowable as a deduction for tax purposes is whether it is capital or revenue in nature. In some cases, it can be relatively straightforward to identify revenue repairs. HMRC provides the

14 Jul 2020 13:23 | Produced by Tolley Read more Read more
Value Added Tax

VAT registration ― change of VAT registration details

VAT registration ― change of VAT registration detailsVAT registered persons must keep their VAT registration details up to date and notify HMRC of any changes. Failure to notify HMRC by the relevant time could result in a penalty. For guidance regarding penalties for failure to notify please see the

14 Jul 2020 13:57 | Produced by Tolley Read more Read more