If you are leaving the UK to live, work or retire abroad, Turcan Connell’s team of legal and tax specialists can assist in ensuring your UK tax affairs are in order.
Statutory Residence Rules
Return visits to the UK must fall within the limits permitted by the statutory residence rules, which can in turn be determined by your individual circumstances such as family ties in the UK, and whether any of your days in the UK are spent working. Turcan Connell can advise on these rules so you are aware of how many days you will be allowed to spend in the UK following your move abroad.
Tax Compliance Requirements
If you have UK income sources while you are abroad, Turcan Connell can deal with any ongoing tax compliance requirements and ensure that HM Revenue & Customs are made aware of your departure from the UK.
UK Inheritance Tax
As UK inheritance tax is linked to your domicile and not tax residence, we can review your domicile position and UK inheritance tax exposure, especially if you are seeking to lose a domicile in the UK and acquire domicile elsewhere in the world.
Where your destination is unstable or has forced succession rules, we can also advise on holding assets through appropriate structures in stable jurisdictions to protect against these.
Before you leave the UK, Turcan Connell can ensure your Will is up to date and appropriate to your new circumstances. Powers of attorney can also be prepared so that a trusted friend or family member has legal authority to look after your continuing UK interests in your absence. Your UK tax position should also be finalised so that you have a clean exit from the UK.
For more information on tax and legal considerations, contact a member of the team today.