UK Property Sales to Pay Capital Gains Tax at Source is the second of a series of 7 articles relating to tax changes affecting Expats this Spring 2020. The world moves on, and Expats should consider the tax efficiency of their assets to protect Family, Business, Property and Pensions Living and Working Abroad.

Here in the second of the series, ProACT Sam looks at Capital Gains tax.

Negative Interest Rates in Europe’ is the first of a series of 7 articles relating to tax changes affecting Expats this Spring 2020. The world moves on, and Expats should consider the tax efficiency of their assets to protect Family, Business, Property and Pensions Living and Working Abroad.

Here in the first of the series, ProACT Sam looks at the impact of negative interest rates and charges on Expat’s savings.

ProACT Sam looks at how self employed sole traders could be impacted by Brexit and transition.

The contractors country of tax residence is often the country where the work is carried out.

There are no borders on the internet so tax residence can be impacted in different ways. Consider your days tax resident in the UK or overseas and how your work is carried out.

ProACT Sam discusses how UK Expat’s tax is affected by Brexit. Double Taxation Treaties are not impacted, however, there are likely to be changes moving forwards, with some positive impacts and some negative impacts.

ProACT Sam explains how Expat taxation is not directly impacted by Brexit, but that this could be subject to change and a key area therefore, for Expats to monitor and take action on.

Why 11pm UK time? Because Central European time is one hour ahead of the UK, although the Worlds zero time zone (Greenwich Mean Time GMT or Universal Time Coordinate UTC) runs through London and Paris....

So Brexit happens at the end of EU time on the 31st January. Giving the UK another hour in that last day.

What should UK Expats in Europe and EU Expats in the UK be doing now that ‘Brexit Day’ is upon us?

The ‘Brexit’ bill has been passed by the UK Parliament. This needs to be ratified by the EU Parliament and is what’s being processed at the moment.

If the EU Parliament rejected the bill, then the Treaty wouldn’t be ratified. However, the law that’s gone into the European Parliament is a two-line bill stating that the EU/UK Withdrawal Treaty is submitted and agreed, and recommending that the EU Commission accepts that and implements it accordingly.

Non-EU citizens who are family members of EU Citizens can apply for the EU Family Member Residence Card. This card ensures that an EU Citizen’s residency rights extend to their family member.

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.