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Whether you are emigrating to the UK, expanding your business, or acquiring your first investment property, as a leading accountancy firm in the UK, we deliver a bespoke advisory service.
We are fully aware of the challenges entrepreneurial individuals and companies face when investing and mobilising cross-border and have a thorough understanding of the issues at hand.
Our reputation is grounded in quality and consistency, and delivering premium advisory services quickly and cost effectively.
Within our Private Client practice we have a boutique team which specialises in advising clients who have international aspects to their affairs. Within that remit the scope of the work is wide and may include resident but not domiciled individuals, those coming to or leaving the UK, as well as those who have business or investments overseas.
A good understanding of the Statutory Residence Test and domicile rules are absolutely essential when considering an individual’s exposure to UK taxes. We can help you efficiently manage your tax liabilities through careful planning and technical expertise.
Key to our success is our accessibility, our open communication with clients and our personal, yet professional, partner-led service.
We are a member of the Leading Edge Alliance, a global network of prestigious accountancy firms. With our extensive international network we can provide seamless advice globally.
Residency is a fundamental consideration if you are contemplating coming to or leaving the UK. In the UK tax residency is determined by the Statutory Residence Test. Residence depends on the number of days spent in the UK, combined with other factors such as historic residency and employment. Generally you will be resident or not resident for an entire year, however in certain prescribed circumstances it is possible to ‘split’ the year such that it is possible you are only resident for part of the tax year. This can have a material impact on your tax position.
You may be resident in two countries, and if so, our team can advise on developing the most tax-efficient structure, taking into consideration any double tax agreements which can affect where your income or gains are taxable.
Another area which requires careful consideration is returning to the UK after a period of temporary non-residence. Our team can help you understand and plan to ensure that there are no surprise tax liabilities when you return.
UK residents who do not consider the UK their permanent homeland , such as long-term expatriates, may be not domiciled in the UK. As a non UK domiciled individual you may not have to pay UK tax on foreign income or gains under a tax regime known as the remittance basis of taxation. Under the remittance basis, you only pay UK tax on foreign income or gains that you bring to the UK. Depending on how long you have been in the UK there may be a cost to claiming the remittance basis and we can help you decide which options are right for you, and provide practical, professional advice as you seek to enjoy the benefit of any non-UK funds in the UK.
Non domiciled individuals looking to move to the UK can benefit from significantly from early planning.
By default, an internationally mobile employee who becomes UK tax resident will be liable to UK tax on their worldwide earnings, however those who do not consider the UK their permanent homeland can potentially benefit from Overseas Workday Relief. Where you undertake your employment duties both in the UK and overseas you can you can potentially excluded the earning in relation to the non UK duties from UK tax, provided that those earnings are paid offshore and not subsequently remitted to the UK. This treatment can apply for the first three years of tax residency. The rules are complex, and our technical and commercial expertise ideally places us to provide a clear and efficient service so you can maximise the potential relief available.