Domicile Status – What does this mean for you?

Speakers:

Alan Fong, Managing Director, Sovereign Trust (Hong Kong) Limited
Laurence Lancaster, Tax Director, Sovereign Group


Domicile Status – What does this mean for you?

This seminar will provide an overview of domicile, which is important to UK expats, its tax impacts and potential solutions.

The concept of domicile (and its importance to tax planning) is not new, especially in Hong Kong, which has become home for a high number of UK expats.  Many assume their UK tax liabilities ended when they became non-UK residents, but this is not necessarily the case, especially when you consider UK inheritance tax (IHT). The default position is that individuals who acquired a UK domicile of origin at birth are liable to UK IHT on their worldwide estate; the rate of IHT on death is 40% (after any exemptions and nil rate band).

There is a UK General Election looming and with the strong likelihood of a change in Government, it’s important to be informed about the potential impact that future changes in tax law may have on your tax position. 

 

About the speakers

Alan Fong (TEP) is the Managing Director of the Hong Kong office and he has over 25 years experience working in the financial services industry, both in the UK and HK; he specialises in private wealth management, with a strong focus on trust and estate planning.  He also possesses a wealth of practical knowledge advising across multi-jurisdictions and corporate structures.     

 

Laurence (LLB, LLM, TEP) is a non-practising UK barrister, specialising in UK private client and pensions taxation. His typical clients are high net worth individuals who require tax mitigation strategies and tax advice. His specialist areas include: advising on individuals’ UK residence and domicile status; UK tax treatment of trusts and other structures including close companies and life insurance policies; UK’s pension tax regime; taxation of UK residential property; estate planning; and double taxation treaty advice. As Head of Tax for The Sovereign Group, he helps devise internal tax policies and strategy with a particular focus on UK tax compliance.

 

This event is hosted by Jeremy Sheldon.

Ticket includes a full hot English breakfast buffet.

 

Please note that Business Attire is required by the Hong Kong Club - collared shirts must be worn by men, and jeans, sandals and sports shoes are not permitted. To see the full list of club rules on dresscode, please click here.

 

Pricing

  • Start-up Member: HK$440
  • Member: HK$550
  • Non-Member: HK$680

 

Terms & Conditions

  • Reservations in advance are required. Please consider your booking confirmed unless notified otherwise.
  • Cancellations must be made in writing 24 hours prior to the event. No shows will be charged.
  • This event is closed to the media.
  • The event will be cancelled if the No.8 Typhoon signal or the Black Rain Storm warning is in force.
  • By attending this event, you agree to be photographed, recorded, and/or filmed and give permission to use your likeness in promotional and/or marketing materials.
  • For further information please email [email protected]
  • All payments for this event need to be settled by credit card through PayPal. Please note you do not need a PayPal account to complete payment.
When
2/28/2024 8:00 AM - 9:15 AM
China Standard Time
Where
Victoria Suite, The Hong Kong Club 1 Jackson Road Central

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