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Detailed responses to highly personalised questions are not always possible.

Tax On A Move Back To Canada?

I am a Canadian non-resident in the Czech Republic. I plan to return to Canada in two years’ time to finish working and eventually retire. I filed a T1 General form for 2015 as I had a small amount of interest income from a bank account I hold in Canada. Must I always report interest income? I also want to transfer money into a Canadian investment account. Michael Atlas of TaxCA.com answered this ...

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Puzzles Over Expat Pension

I am unsure if my overseas pension (QROPS) is free from UK inheritance tax? It seems the case if you remain offshore, but is a bit grey if you come back to the UK – even after five years away. Stuart Ritchie, Chartered Financial Planner & Chartered Wealth Manager with expat financial advisers AES International, answered this question. I am unsure if my overseas pension (QROPS) is free fr ...

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UK Tax On Guernsey Portfolio?

I have a query regarding my tax situation. I am British and have been working in Austria for the past 18 months or so. I have quite a large sum invested through an asset manager in Guernsey – in investment trusts, exchange traded funds, real estate investment trusts etc. Could you possibly tell me if there are any UK tax liabilities on these investments? Adam Thompson, tax manager at expat f ...

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Can I Send Money Back To The UK Untaxed?

Am I right in thinking that, as long as fewer than 90 days is spent in the UK in a tax year, then overseas earnings may be repatriated to the UK without attracting UK tax? Am I also right that these repatriated earnings may NOT be used for investment in individual savings accounts (ISAs)? Adam Thompson, tax manager of The Fry Group, answers that the criteria for being non-resident for UK tax purpo ...

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Do Holidays Count Towards Residence?

Someone who looks after my affairs has told me that days on holiday overseas are not classed as working, so these days are counted as being in the UK. This means I can spend much less time back in the UK if I want to remain non-resident. Is this correct? Adam Thompson, tax manager of The Fry Group, reckons that the advice you have been given appears to be incorrect, but without full details it is ...

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I Want To Be UK Tax Resident

In February 2015 I received my UK residence permit.  I am married to a UK resident and now live in the UK.  I own a holding company based in Canada from which I earn dividends. I have not received any dividend income since arriving in the UK and I have filed my 2014 return with the Canada Revenue Agency. I am looking for assistance with severing my Canadian residential ties and establishing myself ...

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Contractor Or Company?

I have (I think uniquely) been paid like an employee by my company as I travel between international assignments. They say they can no longer do this. Can I remain UK non-resident and would it be better to bill them directly as a contractor or set up a UK company to manage my finances? Adam Thompson, tax manager at expat finance specialists The Fry Group, answered this question. “It would appear t ...

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Musician Wants To Change His Tax Tune

We specialise in business management for international recording acts etc. We recently had a question from a UK citizen relocating to Canada as a permanent resident. Can he sever his UK residency and file taxes in Canada until his return? “In short, it is possible for your client to sever their UK tax residency,” says Adam Thompson of expat tax specialists The Fry Group. “Furthermore, for any full ...

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