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UK Tax Domicile and Residence - What are the tax implications? 

International Tax Advice for US & UK Expats
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Read here: www.optimiseaccountants.co.uk...
Watch here: • UK Tax Domicile and Re...
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In this video you will learn from Simon Misiewicz, your property tax specialist, of Optimise Accountants
▶ What does UK domicile mean?
▶ How does being a domiciled person in the UK affect your tax position?
▶ What does UK tax resident mean?
▶ Are you taxed on world wide income if you are a UK tax resident?
▶ How does domicile affect your inheritance tax position?
▶ Do you pay inheritance tax on your world wide assets if you are UK domicile?
▶ How do you become a UK domiciled person?
▶ How do you become a UK tax resident?
▶ Can you have dual tax resident status'?
▶ When do you pay the £30,000 remittance basis tax charge?
▶ When do you pay the £90,000 remittance basis tax charge?
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UK Tax when moving to the UK
How much tax will you pay in the UK? What is the remittance basis tax charge and do you need to pay it? We will show you what taxes you need to be aware of and how to reduce it. Download today, save Tax tomorrow.
£9.95 to download
Buy now
www.paypal.com/cgi-bin/webscr...
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#HMRC #Domicile #TaxResident
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Our accountancy and tax services:
To see how we can help you - download our sales brochure here:
www.optimiseaccountants.co.uk
Monthly fees inclusive of VAT
• £89.95 1 X self assessment tax returns
• £99.95 2 X self assessment tax returns
• £99.95 per month inc VAT for 1 X limited accounts and tax returns
• £139.90 1 X limited company accounts and 1 X self Assessment tax returns
• £159.90 1 X limited company accounts and 2 X self Assessment tax returns
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Prefer a one off tax consultation?
On the tax call you and a qualified property tax specialist will spend the following time working for you as follows:
Before the call: We will go through the questions that you have already set and create a solutions document. If you wish to send more details then feel free to do so.
During the tax call: We will discuss all the solutions that have been prepared before the call. We will run through each one and choose the right one for you.
After the meeting: We will send you an email with the documented solutions, which will be backed up by links to HMRC and tax law. We will also send you the link to the video recording so that you can review our discussion.
Post meeting support: We would ask that you send an email with an action plan that you are looking to undertake as a result of our call. We would also like to see your questions that you have after our call. We can then respond within three working days.

• 30 minute tax call with a qualified tax advisor to ask 1-2 key questions. Please do not book this call for a tax strategy discussion such as incorporation of your properties, company restructures or inheritance tax planning.
• 60 Minute tax strategy call with Simon Misiewicz. This call with Simon is ideal for more strategic based questions. Examples being incorporation, company restructures or inheritance tax planning.
Use code "YoutTube25" to get 25% discount - Book a tax saving call here:
www.optimiseaccountants.co.uk/
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Other important links
Call to discuss our retained tax services or book a tax call
www.optimiseaccountants.co.uk/
Calculate and save tax today:
www.optimiseaccountants.co.uk...

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27 июл 2024

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Комментарии : 29   
@bouchrajebari9555
@bouchrajebari9555 2 года назад
Really helpful for my ACCA ATX UK exam. thank you!
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
You are very welcome
@kemal2872
@kemal2872 2 года назад
Me and my wife moved abroad 1 and half year ago and we are starting a company in the UK to do business online and the business will be getting leads from another UK based company and all the money made will be from the UK and UK customers. Will we be paying the tax in the UK or in Turkey?
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
UK companies will pay UK tax. However, there is a way to mitigate but this is a complex area of international tax law. Best to get a specialist tax advisor to help you.
@rahulchawla20
@rahulchawla20 Год назад
Hi, thanks for such informative video. I am planning to move to the UK soon. I have a complex case that includes more than 2 jurisdictions including China, India, HK. I would like to book a call. Do you have experts who know taxation in China, India also? I want to plan well before I land there.
@Simon-Misiewicz-US-UK-Taxes
Sadly not China or India. We specialise in UK, US, Spain and Hong Kong. Happy to host a cal on the UK but sadly not the other two
@ygu6555
@ygu6555 2 года назад
Hi, I have a friend who is a UK resident but not a Uk domicile, and he has sold his property in France where he is also a resident, should he pay the Captial Gain Tax for the UK? Should he fill out a Self Assessment Tax return for this, please? thanks.
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
Your friend needs to get tax advice. It is possible to pay CGT in both France and UK with a tax credit. It is also possible to use the remittance basis for the gain dependent on a number of factors
@riksvlog8555
@riksvlog8555 3 года назад
Hi Simon, I started renting my buy to let property since December 2020. Is the deadline for my self assessment tax return 31 January 2022 or was it 31 January 2021? It would be great if you could help.
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 3 года назад
If you rented your buy to let property in December to 2020 then you do not need to submit a self-assessment tax return until the 31st of January 2022. This is because the year end for you is the 5th of April 2021
@riksvlog8555
@riksvlog8555 3 года назад
Thank you so much @@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 3 года назад
You are very welcome and I wish you the very best look
@zhaneterry4869
@zhaneterry4869 2 года назад
Hiya I am planning to return to the UK in Jan 2023, I moved to Dubai in Nov 2021 and have seen talks/videos about large tax bills. Will I be subject to any tax the UK also I'm looking to buy a property any advice on that please?
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
You are best to speak to a specialist accountant before you do anything. Sadly, you will not find much joy on a free RU-vid channel community page. There is just too much to information that is required from your staff to understand the tax implications
@jasonkk8462
@jasonkk8462 2 года назад
If I choose remittance base and non domicile, for those income generated in foreign countries and not remitted to UK, have no need to pay UK tax. I remit these income, generated from foreign countries, to UK on the 6th year. Is the income need to pay tax? What level of tax rate? If l earned GBP50,000 from foreign countries each year, then I earn totally GBP300,000 in 6 years. I remit this GBP300,000 to UK, this GBP300,000 need to pay UK tax? What tax rate will be apply? 20% for GBP50,000 each year or 40% on GBP300,000?
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
The rates of tax that you pay in the UK will change from year to year. This is because amount of tax you pay would depend on your income in the tax year you remit the money. Don’t forget that there is a remittance basis to tax charge, which needs to be taken into account given the significance
@youngdonormamafoundation2180
@youngdonormamafoundation2180 3 года назад
Hiya I am planning to return to the UK I've just been living outside the UK 2014 will I be subject to any tax the UK also I'm looking forward buying a property any advice on that please
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 3 года назад
There are no taxes for you to pay when returning to the UK. However, You may need to pay taxes in the country that you are leaving. If you are buying a property in the UK you will have to pay stamp duty land tax and you are better to get some tax advice on this point
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 3 года назад
You may need to also consider capital gains tax on any UK property that you wish to sell. It’s might be better for you to sell this property was not in the UK to benefits from a lower amount of CGT
@nutangupta2305
@nutangupta2305 2 года назад
If you are a UK resident with some savings in an Indian bank , how are you taxed in the UK?
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
This can be a very complex area. It’s depends on your residency and Thomas are status. You really need to speak to Accountant about your Indian savings account and to see how you could protect it from UK tax
@nutangupta2305
@nutangupta2305 2 года назад
@UK Tax Tips thanks a lot.
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
You are welcome. Best of luck to you.
@nutangupta2305
@nutangupta2305 2 года назад
@UK Tax Tips 👍
@kanushah2519
@kanushah2519 Год назад
My name is KANU Shah. I was born in Kenya to Indian born parents. I therefore consider myself to be non domiciled for U.K. tax purposes. Similar situations apply to my wife. I have always declared my wife and I to be non Doms in U.K. tax Returns.We have been non residents for last six continuous years for U.K. tax purposes. We have been residents of Dubai for last six years. We have assets in UAE,U.K.,USA and India. We had an Accountancy business in U.K. plus some residential properties, commercial properties, commercial ground rents student accommodations through limited company based in U.K. and offshore companies. We need some help and guidance for IHT Planning before becoming residents of U.K. We need a quote from you roughly how much the cost would be?
@Simon-Misiewicz-US-UK-Taxes
Hi Kanu The best think to talk about IHT/Tax Structures with domicile/residency is to book a consultation with our qualified accountants/qualified tax advisor. The 60 minute call provide the most benefit given your situation. Please upload as much information and supporting dictators ahead of the tax consultation. All our tax advisors meet in the morning and will collectively discuss your situation. They will agree on the most tax efficient solution. The calls are recorded and sent to you with our tax notes when the call ends. We will also provide you with after call support via email to answer any lingering questions or concerns Please use the code CRM20 to get a 20% discount optimiseaccountantsltd.as.me/optimiseaccountantstaxconsultation Warm regards Simon
@freqeist
@freqeist 2 года назад
Sunaks wife?
@Simon-Misiewicz-US-UK-Taxes
@Simon-Misiewicz-US-UK-Taxes 2 года назад
What Sunak’s wife was doing is legally correct per the UK and Indian tax treaty. The Labour Party and the media seem to make it up as they go along
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