Five common mistakes UK expats make about domicile and tax
By Kirsten Hastings, 19 Jul 17
British expats still have some crucial misunderstandings about their domicile status and tax position that could leave them and their loved ones financially exposed and even land them in trouble with HM Revenue & Customs, warns Rachael Griffin, financial planning expert at Old Mutual Wealth.
The research from Old Mutual International, part of OMW, shows that a lack of knowledge can lead to unexpected consequences.
Griffin said: “It is essential advisers understand the domicile status of their clients and their plans for the future.
“Inheritance tax will be a concern for many UK expats and appropriate planning needs to be in place to mitigate any on-going liability.”
Click through the slides above to find out what the common knowledge gaps were among UK expats currently living overseas.
Tags: CGT | Domicile | IHT | Old Mutual | Rachael Griffin
