International Tax Advice
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INTERNATIONAL TAX ADVICE FOR BIRMINGHAM AND KENSINGTON, LONDON
Clients will need to be fully advised whenever they have any international aspects to their lives.
Coming into the UK for the first time will require a review of the client’s circumstance to determine when they become taxable within the UK system.
More importantly, those leaving the UK either for work or to retire need to have a detailed understanding of their tax residency and understand the intricacies of the new Statutory Residence Test introduced in 2013.
With the current attack on Non-Domiciled individuals, anyone who has a non-UK domicile (place of origin) should take immediate advice on their tax circumstances, especially if they have assets abroad or have been here for more than 15 years. From April 2017 this status is likely to be abolished and individuals will be subject to tax on their worldwide income.
There is still time for Non-Doms to consider their financial position and place assets into excluded property trusts, protecting them from IHT and other UK taxes, however this opportunity is limited.
Please contact us if you need further advice, have any questions about our offshore business planning accounting services or would like a free consultation. We have accountants ready to serve you in Birmingham and Kensington, London, UK.