Product Description

In many respects this is the ultimate form of tax avoidance. By becoming non resident or moving your assets offshore it is possible to cut your tax bill to zero. However, there are also many traps to avoid and pitfalls to negotiate. This tax guide is designed to help the following groups of people: Anyone wanting to become Non Resident to avoid UK income tax and capital gains tax. Those living abroad or planning to live abroad for much of the year. Anyone currently working abroad or planning to work abroad. Anyone interested in using offshore trusts and companies to minimise their taxes. Foreign Nationals living in the UK wanting to make the most of their special tax status. Non Resident & Offshore Tax Planning is written in plain English and is crammed full of examples and tax planning advice. Subjects covered include: Clear but detailed explanation of "Non Residence" and "Domicile". How to become non resident and how this will affect your tax bill. How to avoid UK income tax on your rents, interest, dividends, pension and employment income. How to totally avoid paying capital gains tax in the UK and abroad. Traps to avoid to prevent gains being subject to UK capital gains tax. How to lose your UK domicile and avoid inheritance tax. How foreign nationals ("non domiciles") can use their special status to avoid UK taxes. Detailed advice for overseas property investors How to receive tax free lump sums when you work abroad. Protecting your property investments from the UK taxman when you live or work abroad. Making the most of Double Tax Relief. How to become a Tax Nomad and avoid tax wherever you go. Tax benefits and dangers of Offshore Trusts. Pros and cons of Offshore Companies. How double tax treaties can be used to save tax. Examples are used throughout to explain important points.

Product Details

• Amazon Sales Rank: #462288 in Books
• Published on: 2005-03-24
• Original language: English
• Binding: Paperback
• 122 pages

About the Author
Lee Hadnum LLB ACA CTA is a rarity among tax advisers having both legal and chartered accountancy qualifications. After qualifying as a prize winner in the Institute of Chartered Accountants entrance exams, he went on to become a Chartered Tax Adviser (CTA) and specialize in offshore and overseas tax planning. Lee is the author of several other Taxcafe.co.uk tax guides including Using a Company to Save Tax and How to Avoid Tax on your Stock Market Profits.

Customer Reviews

A Great Read
Unfortunately it's not at straightforward as the previous poster is suggesting.Both the UK and Spain domestic tax rules can levy CGT on the disposal of assets for both residents, as well as where assets are located within their jurisdiction.

This is where double tax treaties come into play, and in the case of a Spanish resident owning property in the UK, the double tax treaty articles 13 (1) and 24(4) can ensure that any gain is taxed in the UK. Fortunately, you can usually avoid UK CGT by remaining non resident for a period of at least five complete tax years. In terms of Spanish tax, whilst the Spanish may be able to levy tax on the gain, the current position is that in practice many residents have found that the Spanish revenue authorities have not been interested in the gain arising in the UK.

So the book is in practice correct and a very interesting and informative read to boot.

Great read for people thinking of moving abroad
I found this book extremely useful. We have been considering a permanent move to Spain, and although I was aware that this move could have favourable tax implications for us, I didn't know just how much we would save or how many options were open to us. The examples used made things much clearer to me, as I had been struggling to get my head around some of the more complicated tax matters involved. A real eye-opener, thanks.

I wouldn't trust it
At only 122 pages it's only about as thick as a magazine, this would be fair enough if it was accurate... however the area I was interested in regarding the sale of property in the uk while a resident in Spain as covered page 37-38 states I would escape capital gains tax altogether IS INCORRECT. The author does not understand the the concept of dual tax treaties which stop someone from paying tax twice but does not help in avoiding tax, so even though article 13(1) states that capital gains from immovable property MAY be taxed in the country it is situated (ie the UK) it does not prevent the Spanish from also taxing it if you are resident there (WHICH THEY WILL AT 15%), the author needs to understand MAY does not mean MAY ONLY.