If you are resident but not domiciled in the UK, you are eligible to take advantage of the Remittance Basis of taxation, whereby overseas income and gains are not taxed in the UK unless brought over here. Choosing to use the Remittance Basis in a fiscal year is not necessarily the best course of action, so we can help you to understand whether it is appropriate for your circumstances.
There are also a number of reliefs specifically available to assignees coming to work in the UK. Some of these reliefs require bank accounts to be structured properly, and the use of the Remittance Basis of taxation, which comes with its own set of rules and costs. We can help you to understand all the reliefs available to you, and then decide which is the most appropriate for you to use.
You should not overlook the issues that may arise through the international aspects of social security payments or the creation of private pension pots in a country where you do not plan to retire. We can advise on your options.
If you would like more information on our services or would like an initial consultation with one of us to discuss your circumstances, please call or email Alison Asher.