Changes in your personal life or career may prompt a move back to the UK after time overseas. Before a move becomes a reality, it’s sensible to try to stay a step ahead and understand the key financial considerations which may affect you.
It’s easy to overlook financial planning in the midst of dealing with the practical and logistical elements of a move, so it makes sense to act early. Notably moving to the UK can expose you to a significant amount of tax, so it’s vital to take steps to protect yourself.
It is beneficial, both personally and financially, to plan ahead. A good financial adviser and tax specialist will be invaluable to help you navigate some of the potentially tricky tax matters.
This guide explores how, through forward planning, and by using relevant tax and investment solutions, you can return to the UK, safe in the knowledge that your financial affairs are in order.
What you’ll learn in this guide:
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Getting started – useful financial considerations to bear in mind when you start to plan a move
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Making the most of your financial position – why it’s important to determine your total wealth, and how it can and should be structured as part of your move
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Tax considerations – how Income Tax, Capital Gains Tax, Inheritance Tax and National Insurance could impact you as you plan a return home
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Other factors – including education, banking, property, medical care and moving possessions internationally
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Key questions – including whether there are particular dates which work well for moving, from a tax perspective, and what other factors need to be considered ahead of your move including access to cash deposits and currency transfers
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Planning ahead – the importance of factoring in enough time to get your returning to the UK plans in place ahead of your move
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