United Kingdom, (2nd February, 2011) – Which Offshore, a free information resource for British expatriates looking for unbiased advice on offshore investments and QROPS, comments on UK residency laws.
One of the most important aspects of becoming a UK expat is how such a move will affect the residency status of the individual. To most expats, being classed as a non-UK resident is the most attractive option as it allows them to escape UK taxes.
However, the laws and regulations surrounding UK residency are open to interpretation. HMRC have often stated that their own guideline books are to be used only as a general outline, and that the information laid out within is not binding.
Recently, however, the UK government has announced plans to create a more definitive classification of residence, which will come into effect in April 2012.
To help people with their expatriate affairs, Which Offshore is offering numerous resources, guidance and advice for people looking at the ins and outs of UK residency, and what expats can do to assist them with convincing the UK taxman that they are indeed non-UK resident.
This includes a breakdown of the ‘ten day rule’ reportedly proposed by HMRC, which suggests that UK non-residents may only spend 10 days working in the UK before their residency status comes under question.
A spokesperson for Which Offshore commented: “As explained by HMRC, different cases often encounter different results, and it can come down to individual circumstances. We advise that expats stick to the letter of the law as closely as possible and ensure they are following all regulations accordingly.
“For more advice and details on the UK residency laws as they develop and change, potential and existing expats should consult our website.”
For more information on Which Offshore and to consult their offshore investment and QROPS resources, please visit www.whichoffshore.com.
About Which Offshore:
Which Offshore is an online consumer resource for those seeking information and advice pertaining to expatriate life and offshore finance. A fully independent not-for-profit organisation, their website provides an information hub full of news, guides and advice to help expats manage their work and money matters.
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