Tax Guide For Expats Print E-mail
Wednesday, 06 June 2007 09:39

Offshore investment guide
Taxing times?
An individual who is considering a move from the UK to retire overseas will need to take into account a number of factors, including the impact of their move upon their tax position.

One aspect is the taxation regime of the country to which the UK expatriate is moving. According to the Association of International Life Offices, the tax regimes of countries around the world vary considerably.

Generally most countries will levy a tax on any income earned in the country. Others will tax the worldwide income or capital gains of an individual, in addition, perhaps, to raising an inheritance/estate tax on the worldwide wealth of an individual if they should die whilst living in the overseas country.

The exact tax regime applied will depend upon the country in question as well as the personal circumstances of the UK expatriate, for example the length of time they have lived in the country and whether they have purchased a permanent place of residence in the country.

 

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