Tax advice for returning Expats

When returning to the UK or moving to the UK you should take advice early. A key point to determine is when your tax residence in the country you are leaving will cease and when your UK tax residence will commence. Where there is an overlap we can advise on double tax treaties.

Statutory Residence Rules

The statutory residence rules will determine when you become UK tax resident and how you will be treated if you arrive in the UK part way through a tax year. The UK tax year runs from 6th April each year and normally you are treated as being UK tax resident for a whole tax year.

Where certain conditions are satisfied, you may qualify for split year treatment and only become UK tax resident part way through a tax year. Turcan Connell can advise if you qualify for this special treatment.

Structuring Assets

There may be opportunities to structure assets before becoming UK tax resident so that you are not paying any additional taxes once you are UK tax resident. Advice on structuring assets should be taken before you become UK tax resident so that no opportunities are closed off.

Pre arrival checks

For expats returning to the UK it may be possible to clear any gains on assets you are holding, including on UK properties, before your return. We can advise on techniques which achieve this while ensuring the assets are retained within family structures.

International Pensions and Investments

For expats returning to the UK with international pensions or other investments held internationally, Turcan Connell can advise on the UK treatment of these products and any double tax treaties which may apply.

Advice can also be provided on transferring an international pension to a UK registered pension (if appropriate) and transferring non-UK investment products to recognised UK investment structures.

We’re always happy to discuss things further.
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