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Expatriate and International Tax Planning

When planning throughout your financial career, tax often becomes one of the most important factors to consider. You need to make sure you don’t pay more tax than you need to. We help you understand complex tax problems so that you can plan with a clear mind for you and your family, and get the most out of your money. Depending on your nationality, age and retirement plans, we have specific tax-efficient products that could save you money before and during retirement.

What trust is right for me?

Trust planning is extremely complex and requires a lot of careful consideration due to the sensitivity of the laws attached to them. With a wide range of different trusts available, its never been more important to speak to a specialist to make sure you are choosing the correct solution for you.

Offshore trusts offer many benefits for expatriates:

  • Protecting personal wealth from gains and income taxes;
  • Protecting business assets;
  • Creating an international tax plan for cross-border interests;
  • Reducing or removing an estate’s inheritance tax liability.
How can tax planning help me?
People who are living in one country and working in another (cross-border commuters or frontier workers), working abroad, or retired abroad will need to make sure their taxes are in order. Ignorance is certainly not bliss when it comes to tax. Whatever your needs are, we can help you structure your personal tax affairs in a way that will save you time, effort, and most importantly money.
Do I need a trust?
You may want to place assets in trust for estate and succession planning reasons or you may be looking to reduce your overall tax liability. Perhaps you’re unsure of the wealth of opportunity you have as an expat. We daily help create international trust structures for clients, as well as internationally compliant taxation reduction and mitigation strategies.
Residence and domicile tax planning
Whether you’re onshore or off, a UK tax resident or a British expat, ensuring your tax affairs are in order can require cross-border expertise. Complex tax filing, unfamiliar and changing rules, or just the structure of remittances all make early advice important. If you’re planning to remain in the UK for the long-term, it is also important to plan ahead for the point at which you will become ‘deemed’ the UK domiciled. In these circumstances, inheritance tax planning is especially relevant.

Tax Evasion vs Tax Avoidance

Tax evasion and tax avoidance are two completely different things. Evading tax is illegal and can lead to huge fines and criminal charges, but avoiding taxes is the key to building wealth.

Taxation for British Expats can be extremely complex and can differ depending on individual circumstances. Our tax experts have compiled the most important factors to determine what taxes you should and shouldn’t pay.

Things that you will need to consider are:

  • Where you are a resident.
  • Are you UK domiciled or Non-UK Domiciled.
  • What the tax implications are in your country of residence.
  • What the Assets are that you hold.

If you are an Expat living overseas with UK assets, then you may or may not be paying the right amount of tax. Please refer to the relevant country for more information regarding taxation.

Your Country-Specific Guides

Local legislation can make it tricky to know what to do with your pensions, investments, and inheritance – particularly if you’re a UK non-resident. Click your residency below for plenty of up-to-date information about your local tax legislation and how it affects you and your finances. Please note, we have expertise in dealing with clients’ financial affairs across the globe and not just limited to the below jurisdictions.

Types of Tax

Problems can arise due to each jurisdiction having different rules, with certain countries taxing foreign income or investments. For many expats, the advice in this area is essential to avoid any penalties fines, or even just make sure they aren’t paying any unnecessary taxes. This can include taxation on areas such as inheritance tax, estate planning, corporation tax, capital gains tax and income tax.

Cross-border taxation

With huge changes to cross-border taxation over the last few years, including the introduction of CRS (Common reporting standards) providing a much more transparent and regulated marketplace, expats who work & invest overseas will likely have to pay taxes and make tax declarations in two or more countries.

Trust Planning

When it comes to protection from institutions going “belly up”, there is no safer place to store your money. Your money will be held in politically stable countries and some of the highest regulated places globally. 90% of your assets are ring-fenced, meaning that in the unlikely event of a bank collapsing, you have 90% of your money protected. This is one of the highest protection rates in the world.
SJB Global