Two of our advisers, Sasan Lohrasb and Graham McNally have both experienced the process of expatriation and repatriation between the UK and China. Prior to returning to the UK, Sasan and Graham both lived and worked in China for almost a decade.

We have a deep appreciation of expatriate life. Most importantly, as well as helping others, we understand first-hand the financial considerations that come with a move out of the UK and then back to the UK or even moving to the UK for the first time. We are therefore, perfectly positioned to help you with the transition.

EXPATRIATION

Leaving the UK after a period of UK residence or in most cases, leaving home to take up an overseas position requires careful consideration and planning. Your circumstances can be wide ranging. Ensuring that your affairs are in order and that your finances and investments are administered efficiently is of paramount importance. Surrendering investments at the wrong time, or arranging them in an inappropriate manner, can lead to significant and unexpected tax consequences in the UK. The key to a successful and financially efficient repatriation is professional planning taken as early as possible. It can take considerable time to restructure investments, if appropriate, and it is essential to review existing arrangements to ensure their continued tax efficiency. St. James's Place is a FTSE 100 company with funds under management in excess of £168 billion, specialising in the provision of highly personalised, face-to-face wealth management services to individuals, families, trustees and businesses.

QUESTIONS FOR EXPATRIATION (UK-OUTBOUND)

1. What do you do with the assets you have left in the UK? What further options do you now have? What is now a tax efficient investment now that you are offshore?
2. Are you involved in a Trust, either as a settlor, trustee or a beneficiary?
3. Do you have a UK bank account? What do you need to be aware of now that you are about to be a non-UK resident?
4. Do you have protection? For example, health, life insurance, wills or income protection in place in the UK? Are these still valid now that you are leaving? Do you have a Deed of Guardianship in place for your children?
5. Have you arranged your Powers of Attorney?
6. Does your existing home insurance remain valid?
7. What are the impacts of NRL1 (Non-Resident Landlord) for those letting properties?
8. Can you/will you continue your National Insurance payments?

QUESTIONS FOR REPATRIATION (UK-INBOUND)

1. What do you do with the assets you have accumulated whilst offshore?
2. Does temporary non-residence apply to you?
3. Are you involved in a Trust, either as a settlor, trustee or a beneficiary?
4. Do you have an offshore bank account? What do you need to be aware of now that you are a UK resident?
5. Do you have an offshore investment bond with personally selected assets within it?
6. Did you take out any protection whilst offshore? For example health, life insurance, wills or income protection. Are these still valid now that you are returning/have returned back to the UK? Do you have a Deed of Guardianship in place for your children?
7. Have you arranged your Powers of Attorney?
8. What are the impacts of NRL1 (Non-Resident Landlord) for those letting properties?
9. If you are a UK resident non-UK domicile, could you take advantage of offshore investments for tax-planning purposes?

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

Will writing and Powers of Attorney involve the referral to a service that is separate and distinct to those offered by St. James's Place and are not regulated by the Financial Conduct Authority.

USEFUL LINKS

https://immigrationindustry.org/

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