International tax planning

International tax planning advice

The world is becoming increasingly mobile, with individuals moving to and from the UK, so it is even more important to consider your residence status for UK tax purposes.

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International tax planning

You will need to consider two concepts, residence and domicile. Residence is largely based on the time spent by an individual in or outside of the UK. The reasons for leaving/coming to the UK and the duration of each visit also need to be taken into account.

An individual's domicile is less fluid. This will usually be the place where you are born or, if you move to another country and intend to remain there indefinitely/permanently you can, in certain circumstances, replace your domicile of origin for a domicile of choice.

Getting to grips with these complicated concepts can be a little daunting. As your tax advisers, we will work with you to understand where you are resident and domiciled for UK tax purposes and then provide essential tax planning advice.

Determining your UK tax position and protecting your assets

Whether you need help determining your UK tax position or calculating whether it is best to claim the remittance or arising basis; whether you are planning a move overseas or to the UK and need guidance on the double taxation treaties; or whether you are looking for a way to protect your worldwide assets - your tax advisers at VWV can help. In most circumstances, this advice will involve some inheritance tax planning, and potentially advice on offshore trusts.

Cross border secondments and employment advice

Cross border secondments and employment advice for both you as an employer or employee will also ensure that the correct tax treatment is applied from the outset. Considering national insurance contributions at this stage will also be important as the treatment can change significantly depending on the country and duration.

For international tax planning advice, please contact our dedictaed tax line at tax@vwv.co.uk.