tel. 02088 022 772 or 0208 800 8633 (available evenings & weekends)
To Add menu Go Here

An introduction to expat tax affairs

Home / Blog Entry / An introduction to expat tax affairs

We have been working in the accounting profession for over 30 years. As a result, we understand every aspect of it. This makes us one of the top performing companies excelling in tax returns Stratford has. We have had the pleasure to assist a huge list of clients with their needs. This includes taking care of personal and business accounts. With every service, we make sure we understand the requirements and offer solutions that will work for the client.

Expat tax affairs are rather complex. One mistake British expats often make when moving abroad is believing they are exempt from UK tax. This is not the case whatsoever. There is much more to British expat tax requirements than that. To help, we have written a guide here that goes over some of the most important details.

Is my residence status crucial for tax reasons?

Tax returns StratfordUK residents are possibly liable to UK capital gains and income tax on worldwide gains and income. For those who are not UK residents though, there are special rules.

There is a basic tax rule to be aware of. It states that non-residents can only face tax on income coming from somewhere in the UK. As such, non-resident people are chargeable on those profits of a trade if it gets carried out in the country.

In addition, non-residents are also chargeable on the profits of a UK property establishment. This is if the property or land creating the profits exists in the UK.

Other areas they are chargeable on include UK partnership and pension income, and employment income linked to UK duties. It is important to be aware of all of these.

With dividend interest, income, and similar savings, the income is taxable. This is if the source lies within the UK. It is chargeable within the UK at both high and basic rates. The exception is if there are certain relieving provisions. In addition, all non-resident British citizens can access the tax-free personal allowance. If you need assistance from the greatest company working in tax returns Stratford has, please call us.

Double tax treaties

There could also be a non-resident residing in a country where the UK has a double tax treaty. In this scenario, the treaty typically inhibits the UK’s tax rights to specific income. For example, income from a structure shall stay taxable inside the UK and government pensions are taxable in the country. The UK does in fact have a considerable network of double taxation agreements. As long as you consider them carefully, they should lower the danger of taxpayers being doubly taxed.

Reliable solutions for tax returns in Stratford

At Brian G Lonis and Co, we make it our mission to offer high value, cost efficient solutions. We tailor the work we do to each client’s individual needs. The end result should be a huge improvement in your financial situation.

So, if your circumstances require the most skilful company working in tax returns Stratford has, make sure you contact us. We can give you a clear quote for the services and offer lots of helpful support.