Category: Expat Tax Planning

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Selling property held in QNUPS

There are many advantages to putting an investment into QNUPS, one of which is to have the option to also transfer their investment property to the pension, but what happens once you’ve done that? Is it possible to easily sell the property, are there any restrictions, or do I have to wait until a certain…
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Tax considerations for Hong Kongers moving to the UK or buying UK property

Hong Kong citizens who are considering relocating or investing in the UK property market should ensure they have a thorough understanding of the UK tax system, and they should be proactive about tax planning prior to arrival or purchase. Those with a BNO visa, too, will be subject to the UK’s global tax system, which…
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UK Pension Mistakes to Avoid

British Expats: Avoid These Pension Mistakes

Many British expats seek guidance when planning a retirement strategy. They do this to avoid making costly UK pension mistakes that can seriously jeopardise their retirement fund. The planning becomes even more complicated when a British expat doesn’t intend to return to the UK, or if their earrings are exceptionally high. These different scenarios require…
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Planning ahead to reduce inheritance tax

How to stay ahead in Inheritance Tax Planning?

With the ever-changing rules surrounding inheritance tax, you may feel confused as to how you can actually prepare for what some people call the ‘death tax.’ With news such as Chancellor’s Rishi Sunak plans to increase inheritance tax to offset the cost of the Covid-19 pandemic on the UK’s economy, combined with rising UK house…
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The Estate Planning process

Estate Planning is a long process consisting of many steps for it to be comprehensive and “bullet-proof”. What should such a process look like and when Estate Planning should be performed? Estate Planning mainly focuses on deciding how your estate, such as property, cars, investments, or personal items should be allocated after you die. However,…
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3 Pillars of Expat Retirement Planning

15th of September is Pension Awareness Day, and so in an attempt to increase that awareness, we turn the spotlight on a subject that we all require at some point in our lives. Soteria Trusts discusses expat retirement planning, and more specifically, looks at the 3 pillars that are considered fundamental to the implementation of…
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Rules around UK Domicile vs Non-Domicile

The UK government has declared that HMRC will be looking very closely at British citizens who ostensibly live abroad. The case of Mr Gaines-Cooper unveiled the fact that HMRC is looking carefully at individuals to see where they have centred their life. In this case, Mr Gaines-Cooper purported to be living in Seychelles and visiting…
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Domicile in IHT Planning

Domicile and IHT Planning

Taxation rules around expatriates’ worldwide assets can sometimes be confusing. Being unaware of the tax implications of your domicile status, especially as a UK national and a foreign national with UK-sited assets, can cost you high tax rates. Not acting on that can lead to your family or beneficiaries suddenly having to pay large sums…
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Why are residence and domicile important?

Your tax residence status and domicile status affect the extent to which you are liable to tax. There is a difference between your country of domicile and your residence, especially if you are an expat. Many expats go through life not knowing what domicile is, or they assume that they are domiciled in the place…
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Pensions for non-residents in Guernsey explained

Guernsey has one of the most modern regulatory regimes that conform to international finance and pension standards. In 2001 and 2017, Guernsey became one of the first jurisdictions in the world to regulate pension providers and rules. These and other regulatory and taxation rules make Guernsey a jurisdiction that is a safe place to keep…
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