Residence and domicile
There are incredible tax planning opportunities for UK resident but non-domiciled individuals who take professional advice and manage their affairs carefully.
There are also a number of tax savings on offer for long-term UK residents who are willing to set up home elsewhere. Portugal is a common destination for UK retirees but this equally applies to Spain, France and other countries both in the EU and further afield.
We can advise on how to successfully achieve UK resident or non-resident status and assist non-domiciled individuals with the taxation of remittances of cash or assets into the UK. This may include the transfer of funds, the enjoyment of a work of art or distribution from an overseas trust. It's important for individuals in this position to be fully aware of the Remittance Basis Charge (RBC) and how this impacts on tax planning.
For more information on how we can guide you through any residency and domicile issues contact Matt Bird and Paul Ffitch.