Overseas Tax Advisory Service?
Do you live outside of the UK? Are you about to return to work in the UK? Are you coming to the UK for the first time to work? Are you about to leave the UK to work overseas? Do you live in the UK and are considering buying a property overseas?
If you answer yes to any of these questions, our highly skilled personal tax advisors can help you fully understand your tax position so that you don’t pay any unnecessary taxes here or overseas.
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HMRC conduct a strict residency test so that it is clear when someone starts and stops being a UK tax resident. It is critical that you understand the tax position relating to working overseas or returning to work in the UK so that you can optimally manage your tax and national insurance position.
What would happen if I don't consult a Personal Tax Advisor?
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You may not manage your time in the UK or overseas appropriately to manage your personal tax position
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You may not fully appreciate the UK tax position as it can change quite often and take the wrong personal or financial action
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You could pay the incorrect UK national insurance contributions
Failure to get proper advice could lead to you easily triggering the UK tax resident tax status and face an unexpected and unnecessary tax bill.
Failure to get proper advice before emigrating overseas could lead to an unexpected tax exposure on a property sale.
Ultimately failure to engage with a tax professional is likely to lead to unexpected or unnecessary tax bills.
Due to the complexity around UK personal tax position it is wise to obtain advice from a personal tax advisor who will:
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Provide advice on your likely residence and domicile status
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Provide up-to-date information on all relevant UK personal tax matters
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Provide advice on financial actions that you could take
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Provide information on UK national insurance contributions
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Help with UK tax paperwork
How much does it cost?
There is a fixed fee of £185 for your personalised Klarity Tax Inheritance Tax report. You can spread the cost with a monthly direct debit.
We will issue a specific letter of engagement for your approval and signature before we start work on your behalf.
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If your affairs turn out to be extremely complex or additional advice is required, we will provide a fee quote before additional work is carried out.
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Also, when you do work overseas we can provide HMRC with evidence to support your visits to the UK – just check our overseas visits service for more information.
Next Steps
Speak to us for advice on how to minimise your Overseas Tax.
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