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Tax
Planning
Our Services
Tax Planning
Because Tax Free Sometimes Isn’t
Tax planning is a critical, and often overlooked, component of wealth management for expatriates. While many overseas locations offer a tax friendly environment it is essential to understand how UK tax obligations may continue to affect your financial situation.
Understanding Tax Residency
Your liability to UK income tax, capital gains tax and Inheritance Tax is solely determined by your UK tax residence status. Understanding your UK tax residence status is the first step in effective tax planning. Your UK tax residence status is decided under the complex Statutory Residence Tests. When developing your strategy to reduce your UK tax liabilities understanding how your UK tax residence status affects you is essential.
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Key Considerations
Statutory Residence Test (SRT)
Relocation Tax Planning
Leaving and returning to the UK is a major life decision. It creates new opportunities and a new lifestyle, yet it also triggers a long list of tax, administrative, and financial steps that you need to understand clearly before you move. Good preparation reduces stress, prevents mistakes, and makes your transition smoother.
Inheritance Tax
Even though you may be a long term non resident your worldwide assets and investments could still be subject to a 40% Inheritance Tax charge. The first step in reducing your exposure to Inheritance Tax is to understand your tax liability and how that may change if you remain overseas or if you return to live in the UK.
Let’s Build Something That Lasts
Let’s start a conversation that lasts a lifetime.
Contact us today