Switching tax residence
Switching country of tax residence is an obligation that if neglected can cost the taxpayer a lot of money. Taxnet has created a unique, simple and effective system for individuals who need a solution they can afford.
Almost every newcomer who spends more than 6 months working in UK, has the obligation to switch tax residence. This is something that lots of people don’t know and also time consuming because there is work to be done in the UK and in the country of previous tax residence. UK authorities must be notified when the person arrived and whether she is domiciled or non domiciled (if this is relevant for tax purposes). So upon the circumstances of each person, different steps and procedures are required. Something common for every person who switches tax residence is that foreign tax authorities must become aware that the person has left the country and is not any more tax resident there.
Not every country has the same regulations so there might be occasions that the country of previous tax residence will not allow the person to leave the country (for tax purposes obviously) so in some (rare) cases a person might happen to be considered dual resident (in both countries). One thing that applies to all is that every case is unique and our 30 years experience can guarantee you the best solution.
Taxnet has great expertise in cases of foreign tax residents. We have come across numerous cases of many different countries, as a result of having offices in London and Athens and also due to the fact that lots of our clients have economic interests in different countries. In the UK we are dealing with tax residence issues for more than 20 years, long before it became a hot topic. Our specialised personnel has accumulated experience which enables us to advise straightforwardly and accurately for your case.
At the same time, our Greek office, who has been operating for over 40 years, has been dealing with foreign residents issues since late 90s. That gives a great advantage for our Greek clients who came to work in the UK and want to change tax residency or to UK tax residents who are moving to Greece. We have created a unique service to help exactly those people to deal with the bureaucratic procedures that are often required, at a very reasonable cost without hidden fees or question marks.
Coming to the UK
First time in the UK for work, studies, or living?
We can navigate you through the set-up process as a UK tax resident and also support you with your new obligations in the UK.
Some of the services we provide to individuals coming to the UK are:
- Assistance with application for a tax residence certificate and apostille services.
- Assistance with issuing a National Insurance number and work visas.
- Support with setup of self-assessment and obtaining a UTR number.
- Prepare and submit annual self-assessment tax returns.
- Advice for starting a business of any type based on your unique circumstances.
The services we provide to businesses from self-employed to limited companies.
- Set-up self-employment.
- Setup of a limited company by shares.
- Accounting support for limited companies.
- Register your business for VAT.
- Register for PAYE and provide payroll services.
We also cooperate with solicitors and estate agents who can help you buy or sell property in the UK, and notaries to notarise company documents in case of setting up a branch abroad.
Leaving the UK
Even if leaving temporarily or for good the UK, there are things to do to facilitate there is nothing outstanding.
We can assist individuals and businesses with the following:
- Stop self-assessment and submit all necessary forms to HMRC.
- Stop self-employment.
- Submit final self-assessment tax return.
- Get tax refund if appropriate
- Accounting support for non-UK residents.
- Strike off a limited company and deregister from VAT or payroll.
- Submit all necessary annual returns.
- Submit self-assessment returns if there is property in the UK and deal with all property aspects