Residence/Domicile Issues
As part of our UK and international tax return preparation service,we will help you to understand your tax status in the UK.
The extent to which you will be liable to UK tax will depend on whether you are:
- Resident; and/or
- Domiciled in the UK
UK tax residence is now determined by a Statutory Residence Test. We can guide you through this Test so you understand your current UK residence status and, if appropriate, what you need to do in order to avoid becoming UK resident.
If you are resident but not domiciled in the UK, you are eligible to take advantage of the Remittance Basis of taxation, whereby overseas income and gains are not taxed in the UK unless brought over here.
How can Stephen Asher Consulting help you?
Whether you are coming to the UK, are already working here, or are leaving the UK, it is important that you seek advice as to:
- What your residence and domicile status is or will be
- What are the resultant tax implications and planning opportunities, including UK inheritance tax
- How the Remittance basis of taxation works and whether it is appropriate to your circumstances
- How to structure your affairs to take advantage of reliefs available to expatriates working in the UK
- What records you need to keep
If you would like more information on our services or would like an initial consultation with one of us to discuss your circumstances, please call or email Alison Asher.