Let our experts ease the burden of your personal tax liabilities
If you are either living or considering living abroad, it is natural to assume that you will no longer be liable to tax in your home country. This is a common mistake and it can often lead to incorrect tax declarations resulting in heavy penalties. There are many instances where an individual living, working or paying tax in a different jurisdiction may still not be exempt from paying tax in their home country, depending on that person’s tax residence, the location of any assets owned, and the source of their main income and any capital gains.
Many UK expats might reside abroad but may still be liable to UK Income Tax and Capital Gains Tax on worldwide income and gains. If you are considered a resident in the country where you are living, then you are normally only chargeable to tax in your home country on any income resulting from sources in your home country. If your home country has a Double Tax Treaty with the country of your residence then you may be exempt from tax in your home country except income from property or government pensions.
We have experts who can guide you on the different regulations of each jurisdiction and assist you in finding the best way possible to reduce your tax burden. We will conduct a detailed assessment of your current tax residence status by carrying out a Statutory Residence Test, and we will then advise you on which course to then take in order to minimize any personal tax liabilities.
We can offer assistance with
- Capital Gains Tax – Tax which will be due on any financial gain after the sale of an asset
- Inheritance Tax – Tax which has to be paid out on an estate when the owner deceases
- Double-Tax Treaties – Treaties between two countries to define tax rules for residents of both countries
- Dual-Citizen Tax – Tax implications for citizens of two countries, including inheritance and investments
- Non-Resident Income Tax – Tax implications at home for residents who now reside outside their home country
- Non-Domestic Tax – Tax for foreign nationals living in the UK whose domicile remains in their country of birth