Six year-end tax issues for non-doms in the UK
By Kirsten Hastings, 31 Jan 17
The approaching tax year-end applies equally to those born in the UK and to foreign expats living there. This year, expats may have even more to consider given the new non-dom rules coming into force from 6 April 2017, warns Old Mutual Wealth’s financial planning expert, Rachael Griffin.
Griffin said: “Foreign expats have legitimate tax planning opportunities available to them, in much the same way as UK nationals do. It is important to seek professional advice before the tax year-end deadline to maximise these opportunities and ensure finances are structured in the most effective way possible.
“Professional advice is especially important for those who have been in the UK for nearly 15 years, as any restructuring of overseas assets may need to take place prior to them becoming deemed UK domiciled for tax purposes.”
Click through to read about the top six tax year-end considerations for foreign expats in the UK.