Liability to UK taxation depends on an individual’s residence and domicile.
In recent years this has been an area of significant change in tax legislation as the UK wrangles with trying to achieve the balance of attracting UK business people which will add value to the UK economy, but the need to fairly tax these individuals.
HMRC have extensive powers to charge interest and penalties for the avoidance or incorrect declaration of taxes. Understanding the differences between where you are resident and domiciled can be a major factor in making key declarations which will affect your liability to UK tax.
Individuals that have a base or with extensive interests outside the UK and are coming to the UK to live must take tax advice prior to relocation.
We offer a comprehensive service based on our understanding of the specific international issues relevant to you, which is designed to ensure that any tax liabilities are mitigated.
For further information, please do not hesitate to contact Craig Nicholson.