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Tax Advice for Dual Residents and Citizens

We are increasingly being approached by clients who have dual residence or citizenship where our advice needs to consider the tax systems of different jurisdictions. Giving advice from a UK-only perspective is rarely an option, so we build up a complete picture of clients’ circumstances before discussing how best to structure their affairs to suit their needs and wishes. Our knowledge of tax regimes of foreign countries means that our clients can consider their overall position without having to engage agents in two or more countries. We back up our knowledge through being part of Kreston International.

How we helped our client
After a long period working in USA, our clients returned to the UK principally to retire. They had become US citizens so this meant that both US and UK tax obligations must be met on an annual basis. It was therefore important that our advice took account of how each country treated income and assets and that any restructuring of their affairs was effective in both countries and the benefit of tax allowances and reliefs were retained. Our knowledge of the UK/US double tax treaty and its implementation ensured that our clients understood the reasons behind the tax-planning advice given. We have set up regular reviews so that changes in circumstances and tax rules can be considered on a proactive basis.

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

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