Tax Planning For Temporary Non Residents
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February 2013 Edition
Leaving the UK for a short period of non residence can be an attractive option particularly if there are significant tax benefits to doing so.
In the past leaving the UK to crystallise capital gains, extract income from UK companies or remit foreign untaxed income were popular tax planning strategies.
Unfortunately there are a number of potentially nasty anti avoidance rules that can catch people moving abroad for short periods, including a 5 year non residence requirement for CGT purposes. These rules are being extended and amended from 6 April 2013.
In this guide we look at just what UK tax advantages you can obtain by becoming non UK resident before taking a detailed look at the current anti avoidance rules in place and the new rules applying from April 2013 including the changes to the current 5 year non residence requirement.
Subjects covered include:
...And how this rule is changing from April 2013
- Income tax
- CGT
- Corporation tax
- Inheritance tax
About the Author
The Author of "Tax Planning For Temporary Non Residents" is our site Editor, Lee Hadnum. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA). You can ask Lee online tax questions via our Fast Tax Advice service.
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