The good news is that the UK has a very favourable remittance basis of taxation for foreigners. Careful planning and structuring can allow you to take maximum benefit of our remittance rules.
The less good news, as with every other element of your tax affairs, is that you need to consider it as soon as possible. If you have already put your plans in place to move here, we should really have spoken already!
When you call, my first question will be whether you are moving for professional or lifestyle reasons? I will then need to understand if you are coming to live long term or for a limited period.
If you are coming to work in the UK, it will matter whether it is for your business of someone else’s.
We’ll need to understand how your employment income and benefits will be taxed , how your private investments in your home country will be taxed in the UK, and the implications of bringing your wealth with you. If you are here for the long-term we’ll also need to discuss estate planning issues for you and your family.
This will enable us to decide the most effective way to buy your home, plan for your family’s future, and to ensure that there will be no unpleasant surprises once you have settled in the UK.
ROBERT SCHON PLANNING AND TAX ADVICE 