If you are planning to move to the UK or perhaps return after living abroad for a substantial period, it would be prudent to optimise your financial affairs in advance of your arrival and consider how the changes in taxation between the different jurisdictions will personally affect you. This is not a last-minute consideration as some changes may take time to implement and so we generally suggest you should be reviewing your financial affairs at least a year before your move.
If you are not UK domiciled and are moving to the UK, you may be aware of the favourable tax treatment that you can benefit from called the remittance basis. This can be extremely beneficial but only if used correctly and in a planned, methodical manner. If used incorrectly, you could lose out on the possible benefits and find you are in a worse position than otherwise.
Whether domiciled in the UK or not, it is advisable to review your financial affairs to ensure that any investments or assets structures you own or have contributed to will remain efficient when you are in the UK. With the difference in taxation across the globe, it is not uncommon for something that is highly efficient in one jurisdiction to be less efficient in another.
Our experienced team of advisers will guide you through the process of assessing your finances, building a financial plan for your arrival in the UK, and optimising your financial activities for arrival and beyond.
For further information on how we can help you build and protect your wealth, please contact us.