International
If you are coming to, or leaving the United Kingdom, we can advise on the tax implications and suggest planning to put you in the most advantageous tax position. As with all areas of tax, advance planning is the key to maximising the benefits available and we can assist with all stages of the process.
If you are planning a move in the future, please get in touch and we can discuss how we can help.
Coming to the UK
If you are coming to live in the UK and are not domiciled here, there are a variety of tax reliefs available to prevent your offshore income or gains from being subject to UK tax. The application of these reliefs is complex and requires careful planning prior to your arrival in the UK.
If this pre-arrival planning is not carried out, valuable reliefs can be lost, and your UK tax liability could be much higher than necessary.
In addition, the planning should consider personal and business assets as well as any overseas structures held, such as companies or trusts. Any planned investment into the UK could also attract relief so would need to factored in.
We regularly provide inbound individuals with detailed advice and planning, often working in conjunction with their overseas advisers, to ensure they are put in the optimal tax position on arrival in the UK.
Leaving the UK
If you are leaving the UK, it is important to get the right advice in your destination country. We have links with professional advisers in many overseas jurisdictions and can make recommendations to ensure you receive the best advice possible.
We can also advise on any UK aspects that may remain once you leave the UK, particularly if you are leaving property or have investments here.
As with any move overseas, your tax issues will likely become more complex and considered advice will be needed to ensure you minimise your tax position and maximise the tax planning opportunities.
Tax Residence
The concept of residence for tax purposes is not straightforward and definitions differ between countries. It is possible to continue to be UK tax resident after leaving the UK depending on your remaining ties to the UK as well as the days you might spend in the UK for work purposes or visiting family.
We can advise on your UK tax residence position if you are coming to or leaving the UK and ensure that any tax planning factors that status in. We can also advise on the number of days you should or can spend in the UK in order to maintain your UK tax residence (or non-residence) position. This allows individuals to plan accordingly and avoid any unexpected tax consequences.