Should I stay or should I go?
The changes to the UK taxation of resident non-domiciliaries in 2008 and the introduction of a 50% rate of income tax, has increasingly caused businessmen, entrepreneurs and high net worth individuals to question whether the UK is the most appropriate jurisdiction to base themselves.
Following the tax changes, can the UK still be seen as a tax haven for non-UK domicilaries and how should those who are thinking of moving here (or are already here) structure their affairs?
Considerations include the position for those who want to leave the UK and what steps need to be taken to successfully achieve this and to escape the long arm of HMRC. For those that do want to, and can, leave the question is; which jurisdiction should they move to? Switzerland and Monaco are traditional locations for ex-pats and remain highly popular. The USA and Italy are alternative ‘high-tax' jurisdictions, which can still offer tax efficient residency for foreign nationals, as well as Hong Kong - examining the residency issues for those looking to move further afield and to access the emerging markets of the Far East. The rules for non-domiciliaries in the UK and whether UK residency is still the most attractive option.
We held a recent sell out interactive seminar to examine these consideration and provided an overview of the tax rules and regulations that exist in each of the jurisdictions, we also covered the practical issues involved with relocation, residency qualifications, accommodation and schooling, as well as offering personal insights from the speakers own experiences of international relocation.
116 delegates provided their views by completing our survey, the results of which have generated media interest. Click below to view the survey results.
