Opening a UK HSBC account from the US~Could it be true?

As individuals domiciled outside of the UK income is only taxable if it arises in the UK and Republic of Ireland.  Therefore if, for example, interest income does not arise in the UK (but arises and is kept offshore) then the 40% tax that the UK wants to take from you can remain in your purse instead of the UK tax authorities...

what does 'domiciled' mean exactly? Are work permit holders not 'domiciled' in the UK? People on spouse visas?  I would assume all ILR holders would be considered domiciled so this wouldn't apply to them...

You are domiciled for UK tax purposes in the place that your father was domiciled when you were born UNLESS you move to another place expecting to remain there for the rest of your life AND sever connections with your previous place of domicile.

Almost all Americans in the UK will remain domiciled within the United States, (along with having to file taxes there every year!).

You are domiciled for UK tax purposes in the place that your father was domiciled when you were born UNLESS you move to another place expecting to remain there for the rest of your life AND sever connections with your previous place of domicile.

Sorry, but this doesnt sound right at all. 
Can you show a link to the official source for this?

You are domiciled for UK tax purposes in the place that your father was domiciled when you were born UNLESS you move to another place expecting to remain there for the rest of your life AND sever connections with your previous place of domicile.

Almost all Americans in the UK will remain domiciled within the United States, (along with having to file taxes there every year!).

So because my father lived in Trinidad and Tobago when I was born (I've lived in the US almost all my life) I'll be considered domiciled *there* if I moved to the UK?  We have a lot of family there and visit every so often- does that count as not severing ties?  By the same token- a child born in the US who moves to the UK at a very young age and has dual citizenship- it doesn't make sense that he/she would be considered domiciled in the US for the rest of his/her life.  What if there's no father on your birth certificate?  How does the law determined where you're domiciled then??

I'm with Quarter-Gill...I'd like to see a source for this information.

It's just that i have lived here in the UK for over 20 years, so i dont see how, by any stretch, i could be considered as 'domiciled' in the US!

If my previous comment sounded narky, i didnt mean it that way... just would like to see the 'proof' cos it doesnt sound right to me.   

Sorry, but this doesnt sound right at all. 
Can you show a link to the official source for this?

Yeah I don't get that - my father was domiciled in India but there's no way that's my domicile!!

Full details of HMRCs view on domicile can be found in their booklet IR20 (http://www.hmrc.gov.uk/pdfs/ir20.pdf).

In detail:

1. amarylis may have a domicile of origin in T & T, but this depends on whether or not your father was permanently settled there when you were born.  More info would be needed.  This domicile of origin may have been supplanted by a domicile within the United States if father settled permanently in a US state by the time you were 16 years old.

The UK law (case law going back to the 14th century since the UK has an unwritten constitution) says that domicile follows the father if the parents are married; but follows mother if parents are not married or father is not known. 

No-one is domiciled in the US or the UK.  Rather they are domiciled WITHIN each place.  In terms of the UK it will be in England & Wales, Scotland or Northern Ireland and in the US in one of the 50 States. This is because one is domiciled in a place that has a seperate body of law.

2. Quarter-gill may still be domiciled outside of the UK if you expect to leave on retirement, completion of work, completion of childrens education, death of spouse or some other event.  There are plenty of folks who have lived here for 20 to 50 years plus, who are still domiciled outside of the UK because they still consider somewhere else as "home".

3. Geetak may have a domicile of origin in India if father had not settled permanently elsewhere by the time you were born.  If father settled permanently somewhere else (eg in a US State) by the time you were 16 then you may have a domicile of dependency elsewhere. 

So the trick here is BANK OFFSHORE, claim non-UK domicile and don't bring offshore interest income to the UK.  This is a standard practice for expats coming to the UK.  Jersey, Guernsey & the Isle of Man are offshore for UK tax purposes but part of the British bank clearing system, so this is real easy in practice.

For anyone who expects to be here for only 2 or 3 years and will have non-UK workdays this technique will also save taxes on employment income too...

thank you for posting this info Guya

i'm a us citizen, here for 3 years on a work permit.  i was told by my Uk accountant that is very difficult to change your domiciled place.  for example, he said that i would need to dispose of all my US retirement accounts, bank acounts, drivers licence, buy a grave site in the UK, show without a doubt that i will never move back to the US ever again.  and even then, i would probably still be a US domiciled person.

That's really interesting, Guya- my parents are born and raised Trinis so they were most definitely settled there when I was born- however we moved permanently to the States when I was seven and neither they or I ever plan on going back to t&t to live, so I seriously doubt I'd be considered domiciled there.

I still think it's a kind of silly law though- why not just make it simple?