UK Expat Tax Services
HMRC have made a lot of changes to the UK taxation of non-residents and non-domiciled individuals over recent years and there are ongoing consultations in many areas of taxation affecting these populations of taxpayers. Following the triggering Article 50 by UK government and the impending Brexit negotiations, the future of UK taxation on income, investments and pensions for many UK residents and non-residents is unknown.
Navigating a continuously changing tax landscape is never straightforward. At Analie Tax we aim to assist taxpayers understanding how the changes affect their individual circumstances.
We offer the following services:
UK resident tax return preparation
Filing a tax return is not always mandatory in the UK. If HMRC request that you submit a return or your received income that was not subject to taxation then it is likely you will have to submit a tax return. UK residents must file if they receive £100,000 in employment income, £10,000 of dividends or investment income, capital gains or non-UK income that is taxable in the UK. We can assist with the preparation of the UK income tax returns to ensure correct reporting of any income.
Non-resident tax return preparation
Non-residents who continue to receive UK sourced income are often required to file UK tax returns. The most common scenario are individuals who leave the UK and rent their previous home to tenants whilst they are living overseas. Since the HMRC free software does not include the non-resident pages that must be completed, many non-residents struggle to complete and e-file their UK tax returns. We have the capability within our software to complete all the necessary pages and electronically submit your return to HMRC.
Non Resident Landlord application
Landlords are required to withhold tax at source on any rental income received from UK rental properties. It is possible to make a request to HMRC to be treated as a Non-Resident Landlord which enables you to receive the rental income gross without deduction of tax. For many landlords, the net rental income received falls below their personal allowance so this application improves the cashflow position in relation to the rental income as well as the obligations/costs from the rental agent.
Non-resident Capital Gains Tax Return
From April 2015, non-residents selling UK real estate are required to file an additional tax return to calculate the capital gain arising on the sale. The return must be filed within 60 days of conveyance/sale (30 days for sales prior to 23 October 2021) and penalties are charged for late filing. The obligation to submit this return is not commonly known and, as many individuals are unaware of the requirement, they are often subject to penalty charges so need to take prompt actions to minimise additional charges.
Statutory Residence Test
Introduced in 2013, the Statutory Residence Test (SRT) contains 4 key components to determine an individuals UK residency status. An individual who was resident or non-resident of the UK prior to the introduction of SRT may not have the same residency position under the new rules. Determining your UK residence position will generally depend on the number of days spent in the UK as well as the number of ties you have to the UK. The rules are complex as evidenced by the 105 pages of guidance notes that HMRC have published on how to apply the tests. If you are in any doubt on how to apply the statutory residence test to you particular circumstances then we would be happy to help.