Our Services >> Foreign >> Tax Residence Planning

A taxpayer’s residence has important consequences in establishing the treatment of UK and overseas income. 

It is not simply a case of counting the days of presence in the UK.  Instead a variety of factors must be looked at under the new Statutory Residence Test.

If you are planning on moving abroad or are already abroad it is extremely important that you fully understand your tax residency situation and any Double Tax Treaty implications.

Establishing your tax status is of paramount importance if you are planning on realising a capital gain.  If you are able to prove you are a non-UK resident, this could see a substantial reduction in your tax liability.

However it is important to note that in certain circumstances the gain could be brought back into UK tax if you return to the UK within 5 full tax years.

Eaves & Co can explain your status and the tax implications of potential scenarios, thus enabling you to make an informed and confident decision on your future.