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Emigrating to Avoid Tax Making the most of your tax free capital gains whilst non resident If you're non resident it makes sense to make full use of your capital gains tax exemption wherever possible. This article looks at how you can use transfers to individuals, UK and offshore companies and trusts to hold assets free of UK capital gains tax. . . . keep reading Top 10 tax planning tips for expatriates For any expatriates avoiding or at least reducing UK tax on their income and capital gains will be crucial. In this article we look at 10 of the top tax planning tips for expatriates to reduce and even eliminate their UK taxes . . . keep reading When will the Revenue question non residence status? Knowing when the Revenue will question non residence status is essential to ensure that you don't get inadvertently caught out. This article looks at one instance where the Revenue can and do question non residence status. . . . keep reading Will you be subject to UK national insurance contributions when working abroad? If you've been posted abroad as well as assessing whether you'll be subject to UK income tax, you'll need to consider whether you'll subject to UK national insurance on your salary. This will primarily depend on the status of the country where you'll be working. This article looks at the different options available. . . . keep reading Should you sell or let your former home? In the past when you wanted to buy a new house you simply sold the old one. Now, its not that simple and many people are looking to retain their former house, either for financial reasons or personal reasons. Of key importance will be the potential tax implications. As well as if you should sell the property a related question is when you should sell the property. This article equips you with the information you'll need to make an informed decision. . . . keep reading Download - UK tax residence calculator If you're interested in finding out whether you could qualify as non UK resident try this simple tax calculator. By providing responses to a series of questions it assesses whether you are UK resident or not. . . . keep reading Checklist to avoid Capital Gains Tax when you emigrate Although the rate of CGT has now reduced to 18% on investment assets if this is still too high for you, one option is to move overseas and sell as a non UK resident. This area is a minefield and there are lots of tax issues to consider. With something as important as this it's useful to have a handy checklist to ensure you've covered all the key bases. This article highlights the main tax points for you to consider to make sure you can sell up free of UK capital gains tax. . . . keep reading The real secret to becoming a tax exile and avoiding taxes forever Becoming a tax exile can allow you to completely avoid UK tax. As UK tax can be charged at rates of up to 40%, this can represent a significant saving. This article looks at who can become a tax exile, the tax benefits available and how to go about actually achieving it. . . . keep reading Buying a property in the UK via an offshore company as a non UK domiciliary A common tax planning technique for non UK domiciliaries is to purchase a UK property via an offshore company. The advantage of this is principally in terms of Inheritance tax, as a non UK domiciliary would be exempt from UK IHT on the overseas shares. We'll take a look at some of the practicalities in this article. . . . keep reading Tax implications of leaving the UK For anyone thinking of emigrating it's crucial to consider the tax implications of leaving the UK. Depending on your own circumstances this may either be pretty straightforward or very complex. This article looks at lots of the many potential tax implications when you leave the UK to try and ensure you don't face any nasty surprises! Income tax, capital gains tax and corporation tax implications are all considered. . . . keep reading UK tax for UK resident & domiciled individuals receiving money from an offshore trust If you're a UK resident domiciliary receiving money from an offshore trust you should ensure that you know the UK tax implications of the receipts. This article looks at when and how the receipt can be taxed. . . . keep reading Extracting cash from UK properties as a non resident tax efficiently Many people who leave the UK own UK properties that they hold as investments. This could be a case of letting the previous main residence when they leave the UK as a source of additional income, or alternatively they may hold a number of investment properties that they retain after leaving the UK. This article looks at the tax options for extracting cash from these properties. . . . keep reading Step by Step guide to completing the form P85 when you leave the UK to establish non UK residence You'll probably be completing a form P85 when you leave the UK to tell the Revenue of your departure. This article goes through in detail how to complete this form and includes step by step instructions including explaining why the Revenue want to know the information they're asking for. It includes screenshots of the actual form to illustrate the points. . . . keep reading Tax planning after the draft legislation on changes to residence and the remittance basis The draft legislation on the changes to UK residence and the remittance basis of tax is pretty far-reaching but there are still opportunities for non UK domiciliaries to reduce their UK tax charge. In this report we look at the key provisions of the draft legislation, how they will apply as well as some of the tax planning opportunities. . . . keep reading Reducing UK tax for employees going to work overseas If you are working abroad or are considering sending employees to work overseas, establishing a tax efficient structure for the overseas employment is important. This article looks at the important tax reliefs that may apply to overseas employees. . . . keep reading Can you be non UK resident if you spend more than 90 days in the UK? Revenue guidance states that you'll be classed as UK resident if you're in the UK for more than 90 days (on average) per tax year in the UK. However, this is not the same as the legal position and a review of some previous cases shows it isn't the end of the matter. . . . keep reading Becoming non UK resident in 2008 Losing UK tax residence status is of tremendous importance in avoiding UK taxes. Over the last couple of years the Revenue has been paying closer attention to this on the back of a couple of Commissioners decisions. This article looks at the legal position as well as the changing Revenue treatment of UK residence, and how in 2008 you could look to secure your non UK residence position. . . . keep reading The top ten tax mistakes that UK expatriates make Moving overseas is one of our favorite topics here at WealthProtectionReport.co.uk, and in keeping with this we thought it'd be useful to look at some of the mistakes that are commonly made by expatriates when they leave the the UK to avoid UK taxes. Have a read through these and make sure you don't fall into any of the traps! . . . keep reading Residence and domicile - more information from the Revenue on their 2008 proposals The Treasury have published a consultation document following on from their residence and domicile announcements in the pre budget report. It doesn't contain draft legislation yet, but nonetheless it's still very useful as it gives more details on the nature of the changes they're proposing. Here's our quick guide to the consultation document . . . keep reading Do you need to establish residence overseas when you leave the UK? When you leave the UK it's important to be able to show that there is a clear intention to establish a home overseas. Many people ask whether it is essential that a tax residence overseas is established in order to obtain non UK residence status. This article looks at the advantages & disadvantages of establishing an overseas residence. . . . keep reading Interview with a tax exile Following on from a post in our forum one of our members contacted us about his experience in leaving the UK for tax purposes. This article is a transcript of the key points made during our online interview with him. . . . keep reading Can you transfer your pension fund overseas for tax purposes? Many expats look to move abroad for their retirement. In this case receiving a UK pension means that they may be subject to UK income tax at source. A transfer of a pension scheme overseas can therefore represent a significant tax saving. This article looks at exactly what you can achieve . . . keep reading Completing the forms to establish non UK domicile status after you've left the UK As well as losing UK residence when you leave the UK you may look to lose your UK domicile status to avoid UK inheritance tax. Actually establishing a new domicile overseas can be difficult, however this article looks at one option to achieve this and includes extracts from the Revenue form showing how to complete it. . . . keep reading A step by step guide to completing the 06/07 non residence pages of the tax return when you leave the UK If you're leaving or planning to leave the UK our plain english report on completing the non residence pages is essential reading. It shows you the best way to complete the non residence supplementary pages of the tax return and the reasons for the information required. . . . keep reading Reducing tax on overseas income when you return to the UK Anyone returning to the UK will need to carefully consider the potential income tax liability on their overseas income. As a non resident they'll be exempt from UK income tax on overseas income, however after they're UK resident they will be assessed to UK income tax on their worldwide income. This article looks at some of the options available to reduce UK income tax. . . . keep reading Can I be non UK domiciled in 2008 if I return back to the UK? Many people who emigrate from the UK look to establish their non residence and domicile status after they've left. Unfortunately some will need to return for health of family reasons. This article looks at whether they can still claim non domicile status and if so how they would go about it. . . . keep reading Determining the days spent in the UK and the impact on your 2008 residence status The Revenue guidance on non UK residence makes the number of days in the UK virtually the sole test of establishing non residence. However this is not the end of the matter. The Commissioners can and do ignore the Revenue guidance on this and look at the strict legal position. This article looks at how the Revenue guidance applies and how you can use this and the legal provisions to avoid being UK resident. . . . keep reading Working abroad - traps to avoid to ensure you minimise UK income tax If you're interested in working overseas, this article will provide you with the essential tips you need to know to avoid UK income tax, as well as showing you the various tax traps to avoid. In particular establishing (and more importantly maintaining!) non UK residence can be a difficult requirement for anyone seconded overseas. This report will show you how to take maximum advantage of the tax rules to reduce UK taxes. . . . keep reading Will your UK company suffer a tax on capital gains when you leave the UK? Unlike individuals, companies are subject to an exit charge on becoming non UK resident. This applies where a company ceases to be resident in the UK and the broad effect of it applying is to ensure that any assets owned by the company are treated as being sold and immediately reacquired. This will then crystallise a charge to corporation tax on the capital gain that arises in the company. This article looks at the application of the exit charge provisions and how they can be avoided. . . . keep reading Moving assets offshore for tax purposes Moving assets offshore to avoid tax is often essential to reduce UK taxes. Non UK residents or non UK domiciliaries can be charged to UK tax on UK assets or income but exempt on overseas assets/income. Establishing assets as located offshore can lead to massive tax savings if you fall into one of these categories. This article looks at some of the tax issues involved. . . . keep reading More

Non UK Residence and Emigration Articles