While this flexibility brings advantages for both businesses and individuals, an internationally mobile lifestyle raises significant tax issues. Different tax laws apply to foreign nationals living and working in the UK, just as they do to UK citizens living and working abroad.
Whether you are moving as an employee or individual, when relocating to the UK from overseas or from the UK to a another jurisdiction, planning and structuring the transfer correctly is essential for maximum tax efficiency and compliance.
Double taxation treaties are a significant issue for people with an income from a source in one country who are classed as resident in another, as you could be liable for taxation in both countries.
As the UK has in place double taxation treaties with more than 100 countries, many people may be eligible for tax relief on certain types of UK income, such as pensions, dividends from UK companies, interest and royalties. Our team are able to advise on eligibility and help to maximise the benefits available under double taxation agreements.
Our team can also advise ahead of international moves, drawing on the expertise of fellow MGI Worldwide members overseas, on issues including:
- Tax-efficient remuneration
- Tax treatment of share options
- Tax treatment of pensions
- Tax return preparation and compliance
- Residence and domicile
- Short-term visits
To find out how our international tax advisers can help you, please contact us.