What are the most common financial planning issues facing expats?
By Robbie Lawther, 9 Jun 23
Clients need to get advice before they have moved
Question 4: What do expats need to know about tax when moving?
Paul said: “If you’re someone who is moving jurisdictions, tax is something you’re going to have to get acquainted with, as part of this process, and there are people who are far more educated and intelligent than me who are experts in this.
“My biggest advice to anyone is to speak to a tax expert about the tax implications whenever you’re moving, not just in the in the jurisdiction that you’re moving to, but also the interaction between that jurisdiction and jurisdiction you’re moving from and the effect on any assets it has in either of those countries.
“Never assume that just because there’s a tax treaty in place or just because your friend Bob at the golf club said that he does this or that or the other, that it can be smooth sailing.
“It’s also so much easier to plan prior to the move than it is to try and unwind once you’ve moved.
“Expats need to speak to the right people before moving, not once they have made the move.”
Tags: London & Capital
