You may have decided to return to live in the UK. What should you be considering?
(a) Can you trigger disposal of assets or crystallise income before you become resident?
(b) Are there steps you need to take to make sure you obtain the split year treatment for UK residence purposes?
(c) Are you coming back at the right time or will a delay assist in mitigating your tax liabilities?
(d) What should you do about income or disposal proceeds received after you are UK resident, which relate to a period of non-UK residence?
(e) Have you effectively ceased residence in the country you are departing from and completed all formalities?
(f) What do you need to do with any businesses you have established outside the UK?
(g) What about domicile - will your resumption of residence impact your estate planning?
(h) What are your reporting requirements in the UK (and overseas)?
These are just a few matters that you should be considering before you return to the UK.
How can we assist?
- Considering the assets you hold,
- identifying your income streams;
- determining your residence and domicile status; and
- providing advice and assisting you to establish a plan so your transition back to the UK takes place tax-effectively.