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Omar Aswat - Chartered Tax Advisor
Founder: ASWATAX / ASWATGlobal. I provide bespoke tax advice and creative solutions for business owners and property landlords! ?? I can also help you set up in the UAE and KSA.
ONE
Ensure to retain careful records of expenditure, assets and journeys to and from the UK as well as work patterns. This is key in determining residency.
The temporary non-residence rules and the split year treatment may require that we review the record of your residence and non-residence in the UK over a period of up to thirteen tax years.
TWO
Returning back to the UK may jeopordise your UK tax position so advice must be taken before making any moves. Prevention is better than cure.
Sometimes, clients may do certain things and THEN mention to their accountant/advisor which can be distasteful at times.
I had a client approach me many months back and after reviewing her move from HK to the UK, we identified and realised that 100s of thousands in tax could have been 'avoided' - as in it were unnecessary tax leakage!
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I'm finding more and more people are starting to be mindful of their tax position. Not only when it comes to leaving the UK but all round.
It is ALWAYS better to seek professional advice BEFORE rather than during or after.
Not saying the latter is useless at all but I see circumstances where in hindsight things could have been manouvered so much better, ultimately saving the client large amounts of taxes. Tax-es (as usually interlinked).
Those that seek advice are only doing themselves a massive favour! The cost of inaction can be great...
Get in touch should the need arise. ??
We can advise on and implement tax-saving strategies and solutions that benefits you both now and in the long-run.
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