IN DETAIL: FINANCE
Good to Go Planning a move to the UK? Make sure you get your tax and finances in order first. – By James Sutton
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s family or career circumstances change, there may come a time when you need to consider heading back to the UK – and before this becomes a reality, it is sensible to try to stay a step ahead and get a sense of the tax and financial issues involved. In the midst of packing, address changes, leaving parties and general arrangements, it is easy to forget that you can potentially save a lot of tax.
before you actually move. In addition, moving partway through a tax year may impact tax payable on any investments you hold and plan to sell here. Understanding the date you may become UK resident is now even more important following a recent tax change that Understanding the date you may become will subject an offshore UK resident is now even more important termination payment to UK tax in full if you are UK following a recent tax change that will resident at any point in subject an offshore termination payment the year it is received.
to UK tax in full if you are UK resident at any point in the year it is received.
For example, if you transition over a period of time into a new UKbased role and are spending time in your UK office you may unknowingly qualify for UK residency
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A good financial planner and tax adviser will be invaluable to help you navigate some of the potentially tricky tax matters. However, here are some things you should know and consider before you seek advice and make choices.
