Coming to the UK
You may be thinking about moving to a new country, and whilst it can be a rewarding, it is also a daunting prospect and raises emotive, practical and financial issues. If you are coming to the UK, we can guide you through the relevant UK tax and immigration rules, and explain the likely consequences for both individuals and businesses of moving to and residing in the UK.
Your liability to pay tax in the UK will be determined by your residence and domicile status. It is important that you establish your status and confirm crucial information regarding the point at which you will become a UK Tax Resident, and also the steps you must take to preserve or change your domicile.
Not everyone who comes to the UK becomes resident in the UK for tax purposes. It is important that you understand the difference between these concepts of residency and domicile so that you can effectively arrange your affairs in the most beneficial manner. For example, foreign nationals who are ‘domiciled’ outside the UK, are able to claim a beneficial tax status that restricts UK tax on income and capital gains generated outside the UK only to those amounts which are remitted to the UK.
Whether you are coming to the UK permanently, indefinitely or only temporarily for work, you should contact us before you arrive in the UK so that we can advise you on:
- The tax and National Insurance implications of UK residence and investigate your domicile status and any potential opportunities that may exist
- Identifying and effectively segregating income and capital gains
- How best to establish offshore banking arrangements and other ways of protecting overseas income and gains from UK tax
For further information on establishing your residence or domicile status you can visit the HMRC information page (opens in a new window).