If you see my posts on LinkedIn, you may be aware that I’ve just safely returned from attending the CPAmerica international conference at Fort Lauderdale in Florida. With attendees from different continents at the event, it provided a worthwhile opportunity to gain additional technical knowledge, share experiences and make useful connections with even more professionals who can help our clients.

Tax-efficient escape to the sun

The content in a couple of the sessions reminded me of some of my previous blog posts, in particular, Escape to the sun, in which I covered some of the considerations when thinking about moving overseas. It’s not as simple as packing your bags and setting off because, from a tax point of view, not only do you need to think about the UK tax residency rules, but you also need to bear in mind the rules of the country you are moving to.

Whilst there are double taxation treaties in place between the UK and many other countries, the rules can vary according to where you are going to and it’s possible that you can be deemed tax resident in both the UK and the country you are moving to.

It’s also pretty complicated if you run a business and you want to move abroad – plenty to think about in terms of whether you want to set up an offshore company and whether you continue with your UK business from abroad – make sure you take steps to understand the tax implications of what you are planning.

International connections

You can generally navigate through the red tape with the appropriate advice and it’s always worth looking into these things early on.

We are happy to talk through your situation and give you the bespoke advice that a move abroad requires. And, with our international connections, we can also make sure you get the right advice in the country you are moving to. Start a conversation today by sending me an email or call me at Sagars on 0113 297 6767.

Kate Naylor
Kate Naylor
Tax Partner

Kate works with businesses and their owners on tax strategies and mitigation, looking at business and personal tax structures to achieve long term goals.

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