Managing your UK residency status from a tax perspective

Managing your UK residency status from a tax perspective

The UK tax system is a complex affair. Making sure you understand your tax status and therefore what is required from a reporting perspective can be complicated. By working with Haggards Crowther, we will ensure that there is no unexpected tax liability once you become resident in the UK.

UK resident but not domiciled

If you live and work in the UK, but you were born overseas to a non-UK born father, it is likely that you have a special tax status. A UK resident but not domiciled is commonly known as being a ‘Res non-dom’. As a result special tax rules apply.

We can help you clarify your UK tax status and then walk you through the rules that govern your income and investments, managing your ongoing affairs and annual tax returns.

It is worth noting that even if you are not resident in the UK, you will need to prepare a UK tax return to cover, for example, income derived from UK property investments.

To the non-initiated, the rules surrounding tax on earnings for res non-doms can seem complex and convoluted, but our team at Haggards Crowther know the score and are well placed to advise on the ins and outs of your liabilities and what you need to declare and when.

‘Non-Dom’ Skills

Our team at Haggards Crowther is skilled in order to assist in a number of areas for those with res non-dom status, such as:

  • Advising on changes to UK residency laws.
  • Preparing your UK tax return.
  • Advising on the rules that surround declaring worldwide income in the UK.
  • Advising on funds remitted to the UK, and how to minimise the UK tax paid.
  • Ensuring that any tax suffered overseas is reflected in your UK tax return as allowed within UK legislation.
  • Advising on reliefs available if you are planning to invest in a UK business.
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