The UK government is committed to creating a tax system that not only draws in global talent and investment but also spurs economic expansion. At the heart of its philosophy lies the conviction that individuals with more substantial financial means ought to bear a larger share of the tax burden. Outdated Domicile Concept and Tax…
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Learn about the tax and residency rules and considerations for UK retirees abroad. Find out how to minimize taxes on pensions, navigate capital gains tax, plan for wealth tax, and prepare for any inheritance tax liabilities that arise. Choose a country with a low or favourable tax regime as your retirement destination whenever possible. Discover…
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UK wealth taxes are taxes levied on the value of an individual’s assets. This includes property, savings, and investments. They are designed to prevent large concentrations of wealth from being passed down through generations, but also to fund public services such as healthcare and education. These taxes can be controversial because it can be difficult…
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The United Kingdom is a country with many different types of taxes, most of which are high when compared to other countries. The ones that affect property owners the most are income tax, capital gains tax, and Stamp Duty Land Tax. A 2019 Tax Foundation report found that property taxes accounted for 12.4% of total…
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This article will explore and inform about how the UK tax system works for non-nationals looking to move to the UK to live and work or are eying to invest there. In particular, we will look into tax and estate planning for those considering emigrating to the United Kingdom and becoming UK residents, and any…
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The Treasury needs more money to cover the additional costs of the coronavirus pandemic – and it is going to do it by… raising taxes and freezing current tax allowances. These changes, which cover a range of consumer and personal taxes, will undoubtedly impact local and expat investors and those saving for their retirement the…
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Taxes associated with UK property ownership are plenty and can be quite complicated. Let’s take for example taxes you need to pay when you are selling your property in the UK. Do you need to pay any taxes, and if yes – which ones? There are two UK property taxes – capital gains tax and…
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Hong Kong citizens who are considering relocating or investing in the UK property market should ensure they have a thorough understanding of the UK tax system, and they should be proactive about tax planning prior to arrival or purchase. Those with a BNO visa, too, will be subject to the UK’s global tax system, which…
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The rules around UK inheritance tax, who pays it, how much they pay and when it is paid, is an intricate and sometimes confusing subject. When your loved ones pass away, they intend that their accumulated wealth goes to you. The UK IHT regime is such that the estate of a deceased person is assessed…
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In the realm of financial planning, Qualifying Non-UK Pension Schemes (QNUPS) stand out as a versatile tool for those seeking to maximize their long-term investment and savings potential. Since their introduction in 2006, QNUPS have been lauded for their ability to provide tax efficiency, diverse investment opportunities, and robust asset protection. For UK residents and…
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