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Double Tax Treaties
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Using Double Tax Treaties to avoid UK Tax
Double tax treaties are agreements between different countries that apply to determine which country shall tax certain forms of income and gains. The provisions though are much wider than this, and they can also be used to determine an individuals or company's tax residence. The need for double tax treaties arises because many countries tax both the income of their residents as well as any income arising in their borders. So a resident in one country (France) may be taxed by France on his worldwide income. However if some of his income arose in the UK, the UK may also want to tax the income arising within the UK. This could lead to the same income (ie the UK income) being taxed twice. This is where double tax treaties come into play, and they could provide for either an exemption from tax in one of the country's or a tax credit to offset against the other country's tax liability. This section includes articles that cover the use of double tax treaties. Join up today to read unique tax planning articles and obtain online tax guidance on using double tax treaties
Articles on Double Tax Treaties
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Tax Planning after the new UK-Hong Kong Tax Treaty
11/08/2010
Until now there has been no tax treaty between the UK and Hong Kong. On 21 June 2010 a treaty was signed which should be in force from April 2011. In this article we summarise the key provisions of the new tax treaty and the tax planning opportunities arising from this . . .
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Using estate tax treaties to avoid the deemed domicile rules
15/02/2010
Irrespective of your actual 'domicile' you can be treated as a deemed UK domiciliary which will result in your worldwide estate being subject to UK inheritance tax. In this article we look at how estate tax treaties can be used to prevent you being classed as a deemed domiciliary and how this can avoid UK inheritance tax. . . .
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The 'round the world' CGT planning scheme
14/10/2009
The 'round the world' CGT planning scheme has been considered in a recent court decision and in this article we look at the approach the courts and Revenue have taken in relation to this scheme. . . .
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Using a UK double tax treaty to work in the UK free of UK income tax
14/08/2009
The general rule is that if you have a UK employment the earnings from that employment are subject to UK income tax. This applies irrespective of your residence status. However, this is not the full story, as the terms of a UK double tax treaty will impact on this. In many cases these treaties can be used to exempt any UK salary from UK income tax. In this article we take a detailed look at the use of double tax treaties to avoid UK income tax on UK employment income . . .
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Review of treaty residence and the 'tie breaker' rules
03/07/2009
Where you're resident in the UK and overseas under the terms of a relevant double tax treaty you'll need to look at the treaty 'residence' article to determine in which country you are treaty resident. In this article we take a detailed look at treaty residence and at the operation of the tie breaker rules . . .
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Changes to the personal allowance for non residents from April 2010
10/06/2009
The UK personal allowance (currently £6,475 for most people) exempts a specific amount of income from the charge to income tax. Non UK residents are still charged to UK tax on UK income and therefore being entitled to claim the UK personal allowance can be very beneficial. There were a number of changes to the ability of non residents to claim the personal allowance which were announced in the 2009 Budget. This article looks in detail at the effect of the changes . . .
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Double tax treaties and beneficial ownership
27/03/2009
Establishing who holds the beneficial interest in an asset is crucial when assessing the tax implications. This article looks at why it can be important when looking at making claims under a double tax treaty . . .
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Directors, UK tax & double tax treaties
25/03/2009
Directors moving abroad should ensure that they carefully consider their tax status. The terms of double tax treaties in particular can have a big impact on how directors are taxed. This article looks at how double tax treaties impact on directors based overseas . . .
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A review of the UK-US Inheritance tax/Estate tax treaty
Estate tax treaties are very important in terms of mitigating inheritance tax. Although not as common as income tax treaties where they do apply they can be very effective. This article looks at the provisions and the implications of the UK-US estate tax treaty . . .
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Treaty Residence - When you can claim the remittance basis and still benefit from UK personal allowances
16/02/2009
Any non doms that actually claim the remittance basis of tax will usually lose the benefit of the UK personal allowance unless they have overseas unremitted income of less than £2,000.The Revenue have however confirmed that there is one additional case where an individual could be entitled to claim the remittance basis but still qualify for the UK personal allowance. This arises when you are UK resident but treaty resident overseas. This article looks in detail at this exemption . . .
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Tax planning with the EU interest and royalties directive
06/02/2009
The EU interest & Royalties directive abolishes withholding taxes on interest and royalty payments between EU member states. This means that companies in one member state can make a claim under the directive for interest or royalties to be received from another EU country free of withholding taxes. This article looks at how the directive applies and how you can claim the benefit . . .
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Income tax on UK dividends for non residents and the impact of double tax treaties
28/01/2009
Many individuals who leave the UK and establish non UK residence continue to receive UK dividends. Whilst non residents are exempt from UK income tax on overseas income, this does not apply to UK income. This article looks at UK income tax on UK dividends received by non UK residents. It considers both the domestic UK tax position as well as the impact and terms of double tax treaties . . .
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