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Tax & Accounting

James Cowper Kreston

Whether you are an expat moving to or out of the UK, James Cowper Kreston is here to help you by providing international tax advice. Their wealth of expertise in international tax matters, and worldwide connectedness make them the perfect choice for your financial advisory needs while in London. 

James Cowper Kreston assists expats in:
  • Accounting and business advisory
  • Audit and assurance
  • Personal and business taxation
E-Team Member Contact:
Ian Miles
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Tax & Accounting for Expats in London

Most individuals in the UK are required to file a tax return at the end of each tax year. The UK tax year runs from 6 April to the following 5 April. 

Businesses operating in London can decide on the most appropriate accounting year-end and file statutory accounts and corporate tax returns according to this tax year, which may not coincide with the UK tax year. 

Key Tax & Accounting tips you should know as an expat in the UK
  • The UK applies progressive income tax rates of 20%, 40% and 45%. 
  • The UK has a common law concept of domicile as well as tax residency rules. This can significantly impact on your taxable income as an expat – both employment income relating to non-UK workdays and non-UK personal income and gains may not be taxable. It’s highly recommended to seek tax advice before arriving in London and plan your move ahead of time.
  • If you decide to invest in a UK property and rent it out, once you leave the country you are most likely required to report the income to the UK tax authorities. You may have other obligations such as the non-resident landlord scheme.  It’s best to seek tax advice before you make any investments.
  • If you sell your UK property as a non-UK resident you will have capital gains tax reporting obligations and you may have to pay UK capital gains tax. 
Tax & Accounting for expats establishing a business in the UK
  • Typically, companies operate in the UK either through a UK subsidiary company or a UK registered branch. There are a number of important tax, legal and regulatory differences to consider between these options
  • Business taxes applicable to UK businesses are as follows: corporation tax, VAT, Customs duties and employment taxes. Your company must also comply with pension regulations for your employees under the “Auto-Enrolment”. 
  • The corporate tax rate in the UK is currently 19% for most businesses. The VAT is charged at a standard rate of 20% or a reduced rate of 5%.

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