Coming to the UK from overseas to live or work? Careful, pre-arrival planning to establish your expected domicile and residence status can significantly reduce the amount of UK tax you pay. Our experts can help you with this complex area of tax.
Non-UK domiciled individuals (non-doms) can benefit from special rules in the UK, which mean they’re only taxed on money earned in the country. Your domicile status (the country you call your permanent home) will determine how liable you are for a number of UK taxes, including income tax, capital gains tax (CGT) and inheritance tax (IHT).
The government has clamped down on non-dom rules in recent years to make sure everyone pays a fair amount of UK tax. As such, this area of tax has become increasingly difficult to navigate alone. That is where the 91̽»¨network of tax advisers come in.
To avoid unnecessary tax costs, it’s important to understand your domicile status and local tax rules. We can set up tax-efficient structures that allow you to keep more of your international earnings.
Our network of tax specialists can also help you navigate UK tax for the period of time you’re in the country. We have a wealth of experience and offer a range of services, including:
- domicile reviews;
- pre-UK entry and exit tax planning;
- investor visa tax planning;
- analysis of remittance basis versus arising basis;
- bank account segregation planning and analysis, including keeping clean capital and dealing with mixed funds;
- remittance basis planning, including funding requirements in the UK;
- non-dom to UK-dom spouse elections;
- UK remittances into UK companies under the business investment relief scheme;
- deemed domicile and inheritance tax planning; and
- UK tax compliance.
It’s important that non-UK domiciled individuals who are considering moving to the UK get tax advice before they arrive – and as early as possible.
To find out more about how we can help, get in touch with our experts.