If you are thinking about leaving the UK and moving to Italy, the tax opportunity is significant. But so is the complexity. Get the planning wrong, and you could end up liable to tax in both countries. Something has shifted in the UK's relationship with internationally mobile, high-net-worth individuals. Since the abolition of the non-domicile […]
Most people planning to leave the UK focus on day counts. How many days can I spend here? When do I need to be gone? What they often miss is that the statutory residence test can make you a full year UK tax resident from a single day in the country. Day counts do not […]
A lot of questions have been coming in through the YouTube channel, and Simon Roue wants to address them directly. We've covered a lot of ground across our podcasts and newsletters; split year treatment, the FIG regime, CGT, chargeable event gains, and much more. But if you've been watching, reading, and still wondering "but what […]
Got a chargeable event certificate from your insurer or bond provider? Before you assume it works like capital gains tax, watch this first. You receive a chargeable event certificate from your insurance company or bond provider. You are not sure whether it is a capital gains tax matter or an income tax matter. And you […]
Most people assume that because their employer runs payroll, their employment income tax is handled correctly. In our experience, that assumption is wrong more often than people realise. Most employed people assume their tax is sorted. Payroll handles it every month. HMRC reconciles everything at the year end. There is nothing to worry about. That […]
Got a chargeable event certificate from your insurer or bond provider? Before you assume it works like capital gains tax, watch this first. You receive a chargeable event certificate from your insurance company or bond provider. You are not sure whether it is a capital gains tax matter or an income tax matter. And you […]
Many non-residents assume that after enough time outside the UK, capital gains tax on UK property disappears. It does not. One of the questions we receive regularly from non-residents with UK property is whether capital gains tax eventually stops applying after enough years outside the UK (Non Resident Capital Gains Tax also known as NRCGT). […]
The UK Statutory Residence Test determines whether you are taxable in the UK on your worldwide income or only on UK sources. Get it wrong and the consequences can be significant. One client spent three days too many in the UK and faced a £20,000 tax bill. Three days too many in the UK. A […]
Paying tax in two countries on the same income is not inevitable. Foreign tax credits exist to prevent exactly that. But they do not work in the way most people assume. You have income from overseas. You have paid tax on it in the country where it arose. Now HMRC wants to tax the same […]
When someone tells you that you need to do an SA109, what they actually mean is that you need to do a full UK tax return. UK Tax Return Explained: SA100, SA109 and What the Supplementary Pages Mean Someone has told you that you need to do an SA109. Or an SA105. Or one of […]
