International

For individuals from overseas, the UK is regarded as a tax attractive location. This is primarily due to UK resident non-domiciled* individuals having access to the remittance basis of taxation. It is recommended that tax planning takes place prior to moving to the UK, as once you are a UK resident the tax saving advantages are considerably reduced.

*Individuals who are not born in the UK, but move to the UK to work for a period of years.

Moving to the UK

Woolford & Co. strongly recommends that any company wanting to start up a business in the UK should meet with professional advisers, such as ourselves, prior to setting up a UK company or branch of an overseas company. Tax minimisation structures can often be put in place prior to establishing an organisation in the UK.

Individuals moving to the UK should also consider reorganisation of the following:

• Assets - to generate maximum tax savings
• Bank accounts and investments - to separate capital, income and capital gains, so plans can be made for tax efficient remittance to the UK

Contact: Joe Dunne