It’s time to check your UK tax status.
With the end of the tax year in the UK upon us, expats are being urged to check their tax status.
Many British over-seas residents are still linked to the tax system back home without even realising it, whether through UK Income/ Capital Gains Tax or UK Inheritance Tax.
To find out whether or not you’re tax-worthy, you will need to take the UK Statutory Residence Test, which will clarify your tax status within a three-stage test. Depending upon your circumstances, spending as little as 17 days in the UK in the tax year could have an impact on your residency status.
It’s not all doom and gloom though. If you’re planning to become a UK resident/ domiciled in the future, there are a number of planning strategies that you can put into place to ensure you don’t face unnecessary tax liabilities.