July 23, 2018

The UK/Indian Double Tax Treaty

An Overview

Fiduciary Group recently hosted a seminar which focused on the UK/India Double Tax Treaty and how this can, depending on an individual’s personal situation, provide for some planning around inheritance tax.
Neelai Patel of Fiduciary Group’s London based office Fiduciary Management Services (UK) LLP together with Clare Armitage of Wedlake Bell LLP presented to over 30 delegates intent on understanding how the treaty could be applied and the extent of the benefits it could provide.
The seminar touched on the current UK domicile rules and how they are applied for both domiciled and non-domiciled individuals in the UK and the general rules applicable.
This then led to a review of the Treaty itself and the fact that where a person 
has retained sufficient connections with India, which amounts to domicile under Indian law, the UK’s deemed domicile rules may be overridden by the treaty.
Where an individual’s personal situation meets this criteria it is possible to provide some structuring for IHT purposes.
A case study followed to better understand how in practise it could be applied.
The presentation ended with a number of questions being asked in the closing Q&A session.
It is worth noting that the UK/Indian Double Tax Treaty is one of a few IHT tax treaties with the UK which can be utilised for planning purposes.
NOTE: The above is not to be taken as tax advice. Prior to any structuring full and proper advice must be sought from suitably qualified tax advisers If the above interests you please do not hesitate to contact us via email here.