1. Top Ten UK Tax Tips for Expats
16th September 2009
Debbie Annells
Managing Director
AzureTax Ltd
Chartered Tax Advisor
The British
Chamber of Commerce

3. Top Ten UK Tax Tips Filing UK Tax Returns Non UK domicile status
Inheritance tax planning
Nominate life insurance / pension policies
Cheapest investment vehicles
Location of assets
Owning UK property
UK National Insurance
Pensions – QROPS Schemes
Correctly drafted Wills

4. Filing UK Tax Returns On-line filing – residents – non residents
UK Government Gateway
Non residence forms as part of UK ITR
– tick correct boxes!
New HMRC6 Booklet replaces IR20 on “Residence and Domicile”

5. Non UK domicile status Affidavit / statement of non UK domicile status
“Test trusts” not necessary!
New statement in non residence forms as part of UK ITR
Tick correct boxes
State year you become non UK dom

6. Inheritance Tax Planning
IHT Nil rate band, each person.
£285,000
£300,000
£312,000
£325,000
£350,000
Transferable nil rate bands for spouses
UK pension funds balances over limits
come within IHT
Remember FOTRA securities

7. Nominate life insurance / pension policies
Check nominations
Works for non doms / UK doms
UK policies or non UK policies

8. Cheapest investment vehicles
Insurance wrapper
most expensive custody arrangements?
typically costs 7%!
Company / custody accounts usually cheaper
Trusts can usually open custody accounts easily.

9. Location of assets Check location. Is it a high tax location?
Can asset location be moved?

10. Owning UK property Joint ownership (“joint tenancy”)
Personal ownership (“tenants in common”)
When to own through vehicles?
offshore company
Trust arrangement

11. UK National Insurance Class 2 or 3.
Doesn’t usually affect non dom status

12. Pensions – QROPS Schemes
QROPS transfers no longer possible to HK or Singapore
(since Dec08)

13. Lifetime trusts
Still possible despite 2006 Finance Act impact on trusts
Non dom spouse?
Nominate life insurances?
To use up IHT nil rate band every 7years

14. Correctly drafted Wills
Both spouses should have Wills!
If non UK domicile claimed – state in preamble
Old Wills may affect transferable nil rate IHT band usage
Most Wills need be redone often in Asia

15. Any Questions?