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The UK operates a particularly favourable tax regime for foreign
nationals who are resident in the UK.
Such individuals pay tax on overseas income and capital gains only
if the income or gains are brought in to the UK.
They pay inheritance tax on assets if they are sited in the UK.
With careful planning, therefore, a foreign national may keep his
or her UK tax liabilities to a minimum.
As in all areas of life, to be forewarned is
to be forearmed. It is imperative that certain steps are taken either
before arrival in the UK or very shortly afterwards, and professional
advice should always be sought.
Failure to take expert and timely advice can result in substantial
increase in an individuals tax bill. The following are just three
examples of what can go wrong:
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Mr A brought a substantial
sum in to the UK with which to but a property and incurred a
tax bill in excess of £10,000. This could have been avoided! |
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Mr B failed to set up an
appropriate structure before coming to the UK. On his death
his estate faced an inheritance tax bill of over £100,000.
This could have been avoided! |
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Mr C timed his arrival
in the UK incorrectly and paid £20,000 in capital gains
tax. This could have been avoided! |
We have considerable experience in advising foreign nationals on
how to arrange their affairs in order to minimise UK tax liabilities
and we are always happy to meet clients either at the clients’s
home or at a place of their choice.
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Set up appropriate structures to shelter foreign assets from
UK tax
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Advise on structuring tax efficient banking arrangements
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Assist foreign nationals with the completion of UK tax returns
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Negotiate with the Inland Revenue on the individuals behalf
Straughans the emphasis is on personal service and clients are assured
of receiving the personal attention of one of the team.
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