Thoughts and analysis covering both UK and offshore tax.
Being a fiscal nomad is an attractive status for many. It allows UK tax to be avoided and also solves the problem of finding an overseas country of residence that won't tax you too heavily (as you won't be resident overseas in any case). This is…
It's been reported that the government may be looking to soften the blow of the 18% flat rate of capital gains tax by introducing a £100,000 exemption for business owners. Business owners were probably the group that was most worse off from the…
We're awaiting the draft legislation on the CGT changes but one area that would need to be consider is the anti avoidance rules for offshore companies. Under the current rules a UK resident domiciliary who owns an offshore company is charged to tax…
The changes to the capital gains tax regime from April 2008 will be of great benefit to many overseas property owners. As overseas properties were rarely trading properties and could not qualify under the furnished holiday lettings rules they seldom…
The £30,000 annual tax charge is unlikely to be a significant issue for the many foreign multi millionaires who live in the UK and have significant overseas income. Instead it will be the 'middle class' foreigners living in the UK with overseas…
There were some pretty drastic tax changes announced in the pre budget report. For site members the main proposals they'll be most interested in will be: Changes to rules that apply to non doms. Stricly speaking the proposals won't just apply to non…
If you're interested in moving your UK company overseas, one of our latest articles makes interesting reading. Will your UK company be charged to tax on a capital gain when you move overseas looks at the exit charge on UK companies that cease to be…
If you're interested in using an offshore bank account - this article ( Choosing the best offshore bank account ) is a must read. It looks at the key criteria that people often consider when choosing an offshore account and gives you some of the best…
Whilst we've covered how to reduce capital gains tax in some detail in this site, income tax on overseas properties is one of the areas that hasn't been given the consideration it deserves. We've rectified this now though! One of our latest articles…
We're wrote a few articles covering the kind of questions that lots of people ask us. In particular: How are overseas dividends taxed? , and How is UK income taxed when you're non UK resident The recent changes announced in the budget will impact on…
If you're going overseas to avoid CGT ensure that you don't get caught out, and read our latest article Hidden dangers in going overseas to avoid capital gains tax There are numerous circumstances where you can lose the CGT exemption, and this…
Given the difficulties many first time buyers face in getting their first property, it's becoming more common for parents who have benefited from the property boom, to transfer property to their children. This can give the children a 'foot' on the…
Going to work overseas (eg a secondment) is pretty popular these days, and is actively encouraged by many employers as a way of broadening yoru skill base. If this is an option for you, ensuring that the UK tax issues have been considered in crucial…
Knowing when to use a company to reduce your UK taxes, and when not to can be difficult. Usually it's a case of comparing the after tax position under the different options to find out which leads to the best result. However, there are cases where…
If you're planning on leaving the UK, you should bear in mind in mind (as well asthe 101 other things) the tax implications of your departure. For some it well be very straightforward, but if you own a UK business, carry out a UK trade, own a UK…
If you're selling overseas property have a read through our summary of the key reliefs and exemptions you could be claiming to reduce or even eliminate the UK CGT charges. CGT and Overseas property disposals
Many members are interested in reducing UK tax on their overseas property lettings. We've therefore wrote a couple of articles on some options to reduce UK income tax and Capital Gains Tax . Overseas property letting as a trade This looks at the…
As part of our non UK domicile we've published another article covering another consideration in establishing non UK domicile status. As regular readers will know, establishing non UK domicile status can be very advantageous in tax terms when looking…
Many people are looking further afield to generate good long term capital growth on property investments. Eastern Europe, Dubai, and Cyprus have seen a significant influx of UK investors looking to cash in on the forecast growth in property values…
If you're planning on returning to the UK after you've emigrated you should carefully consider the impact on your residence status and the disclosure requirements. The general rule is that you can visit for up to 90 days (calculated as an average…