Tim Lynch and Tahir Ebrahim (BDO) provide a back to basics guide.
In this article we go back to basics and cover the key considerations of the Statutory Residence Test and UK tax considerations once the individual becomes non-UK resident along with a brief overview of some key tax issues common to popular overseas destinations. We will briefly touch on the residence-based test for IHT.
As professional tax advisers we always start the conversation with our clients who wish to move abroad with: ‘Please be mindful that tax should not be the sole motivating factor’. Individuals’ motivations for relocation should always be explored. In our experience primary reasons for people to consider relocating outside the UK range from business employment and investment opportunities to family education retirement or simply a change of climate and culture.
Clients should always be encouraged to make a...
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Tim Lynch and Tahir Ebrahim (BDO) provide a back to basics guide.
In this article we go back to basics and cover the key considerations of the Statutory Residence Test and UK tax considerations once the individual becomes non-UK resident along with a brief overview of some key tax issues common to popular overseas destinations. We will briefly touch on the residence-based test for IHT.
As professional tax advisers we always start the conversation with our clients who wish to move abroad with: ‘Please be mindful that tax should not be the sole motivating factor’. Individuals’ motivations for relocation should always be explored. In our experience primary reasons for people to consider relocating outside the UK range from business employment and investment opportunities to family education retirement or simply a change of climate and culture.
Clients should always be encouraged to make a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
