The Importance of tax status cannot be over emphasised when undertaking international tax planning for individuals either coming to the United Kingdom or leaving these shores for employment purposes of emigration.
UK tax legislation affords considerable advantages to those who are not UK domiciled and to those who are non-residents but wish to invest and undertake business activities in the United Kingdom.
Tax status, based on the concept of domicile, residence and being ordinarily resident for UK tax purposes, will play an important role in determining how the personal tax affairs should be structured when living and doing business in the UK.
Ceasing to be resident and ordinarily resident in the UK has considerable impact in the UK tax treatment. Practical steps must therefore be taken to ensure that maximum advantage is taken of both UK tax legislation and the taxation consequences relevant to the particular overseas jurisdiction.
Wilton has considerable experience in dealing with all aspects of foreign tax planning for individuals who wish to take advantage of UK tax legislation as it currently stands.