Tax Residence and Domicile is an extremely complex area.
The common misconceptions that you are only liable to tax in one place, or that you pay tax in one place so don’t have to consider whether you have a liability in another country, are totally incorrect.
Understanding your tax residence position means understanding what obligations you have in terms of filing but also in making sure that you pay the correct amount of tax in the right place. Tax systems are not usually forgiving for payments made in the wrong country. It is therefore crucial to get this right from the outset. This can also allow for planning opportunities and reduce costs due to not having to rectify issues over a number of years.
At BHP we have a dedicated team to help our clients navigate through this complex area. Some of our most recent projects include:
Our team can assist those leaving the UK, arriving following an extended absence or coming to the UK for the first time.
We can also work in conjunction with incumbent advisers or use our international contacts to ensure that your worldwide position is considered and addressed.