Capital gains tax (CGT) is due when you sell an asset such as a property, shares or cryptocurrency. However, if you die then CGT becomes inheritance tax which means that your family will pay up to 40% tax.

By taking the right steps and planning ahead you can reduce this liability all the way to 0%.

We’ll be looking at how making a will can help you avoid inheritance tax.

A will is the most important thing for an expat to consider when relocating abroad.

If a UK Expat returns to the UK before they die, they would be deemed domicile from day one. 

This would include returning to be buried or cremated. 

It pays to plan ahead and arrange assets in the best way to suit your circumstance and protect your family for the cost and delay of probate administration and inheritance taxes.

ProACT Sam highlights that careful planning of days in country to avoid non resident doesn’t protect you from potential UK Inheritance tax.

The new UK parliament finished 2019 voting through the Brexit Withdrawl Treaty to allow due process and allow Brexit from 31/1/20. 

Time doesn’t stop. The clock is ticking.

ProACT Sam looks forward to cross-border immigration checks for Expats and travellers, with or without Brexit.

ProACT Sam looks for a slither of daylight and clear vision for the year ahead in 2020.

We’ll even pay the postage!

In last weeks webinar ProACT discussed what expats need for a will living and working abroad.

The UK had a political financial statement on 13/3/18 but with no changes or announcements on fiscal matters.

This Spring statement is an update only.

A November budget to implement tax changes following April.

That’s the new UK Way for Budget statements 

November’s Budget confirmed the UK tax and financial position in the year to Brexit

ProACT Sam 14/3/18

How it Works for Expats Living and Working Abroad

ProACT Sam highlights the changes in exchange of informatio and what Expats should consider about the way they report tax income and capital.

Exchange of financial information has been around since 2005 when any savings or investment income was required to be reported by the bank/investment fund to their local tax authorities. 

From the start of 2016 a new level of exchange of information was introduced. Called the Common Reporting Standard (CRS) by 2018 102 countries (including every one of 28 EU countries) have committed to CRS exchange of information.