If you work overseas, or spend a lot of time abroad, then you may well benefit from financial and/or tax advice from a CPA or tax adviser. This can help you to reduce the amount of tax that you pay to the UK.
As an expat, you may be able to take advantage of the differences in taxation that exist in the country where you are now living and the country that you have left. It is important to make sure that you also pay any tax due in the UK though.
For expat tax purposes, a lot will depend on how much time you spend out of the country. If you were not born in the country that you are now living in, or you don’t consider it to be your long term home, then you could be considered to be a non-domicile resident. If a non-domiciled UK resident is employed by a non-UK resident employer and performs all of their duties outside of the UK, the income arising is only subject to UK tax if and when it is received or remitted to the UK.
Expat Tax Requires Advice from a Tax Expert or CPA
Expat tax affairs are more complex than the domestic taxes that most people have to pay.
So if you are paying tax on overseas income, it is a good idea to get advice on your tax position from a relevant CPA or tax expert. Expat tax advice is a specialist area. This means that it is also best to choose a financial adviser, tax adviser or CPA who is aware of the tax legislation in the country that you are living in.
The unique offering that we have here at Forth Capital enables us to give genuine end-to-end international and UK tax advice thanks to the existence of our London-based UK and International Tax Advice team. Our tax team support our investment advisers in addressing all aspects of our client’s tax concerns alongside any advice given.
Forth Capital Tax Advice
If you are unsure about your tax status and would like to seek tax advice, speak to a Forth Capital Tax adviser as soon as possible.
Our tax advisers are all qualified Chartered Tax Advisers and members of the Chartered Institute of Taxation.
Click here or on the green icon to the right of the screen and fill in the online form, a member of our team will then contact you as soon as we can.