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Leaving The UK To Live Abroad

Our client, who decided to leave the UK and relocate to the Isle of Man, asked for advice on their residency position and assist with planning their departure to be as tax efficient as possible.

How we helped our client

The client was looking to leave the UK mid-way through a tax year and wished to become non-resident in the UK.  Through our in-depth understanding of the UK’s Statutory Residence Test, we were able to advise on how our client could arrange their affairs to be eligible for split year treatment, where they would be UK resident for the first part of the tax year until they left and then non-resident for the second part of the tax year, achieving the client’s objectives.

Following the client’s departure from the UK, they would be treated as temporary non-residents for the first 5 years, so our taxperts also advised what was required to ensure that they remained non-UK resident during this 5 years period, as becoming resident again during that period would have significant tax consequences for them.

For more information or to discuss further, please contact the International Individuals Taxperts.

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