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Court of Appeal’s Expat Tax Ruling

The individual concerned had initially been successful in challenging HMRC’s demand that he provide them with full disclosure of his financial assets. He had argued that as he no longer lived in the UK, he no longer fell within the jurisdiction of the HMRC.

However, HMRC demonstrated to the Court of Appeal that the man met the ‘sufficient connection’ test as he had previously resided and paid tax in the UK. This was supported by a separate Serious Fraud Office action in relation to the expat’s finances.

Conclusions

The case clearly indicates that the full and frank disclosure of cross-border assets to all relevant jurisdictions should be considered an expat financial planning priority for all cross-border individuals – a picture which is further supported by the advent of the Common Reporting Standard as well the new Crime (Overseas Production Orders) Act 2019.

As such, all but the most seasoned and hands-on of individuals should seek specialist wealth planning advice in regard to the extra-territorial effects of their international assets.

Lord Justice Patten noted in the court judgment that there was strong public interest in ensuring that HMRC is able to use the sufficient connection test to pursue the potential tax liability of expats.

Expat Financial Planning Services with Blacktower FM

Blacktower FM works to assist clients in protecting, growing and structuring their wealth in a way that makes the most of their cross-border opportunities and obligations.

For more information about how we may be able to help you achieve your financial and retirement goals, including tax planning services for expats, contact us today.

*Jimenez, R. (On the Application of) v The First Tier Tribunal (Tax Chamber) [2019] EWCA Civ 51, http://www.bailii.org/ew/cases/EWCA/Civ/2019/51.html (Accessed 17-05-19)

Other News

Expats can appeal EU Referendum Act decision

Ballot BoxGood news for British expats who are hoping to prove that the EU Referendum Act 2015 unfairly discriminates against them and their decision to exercise their right to freedom of movement in the EU; they have won the right to launch an urgent appeal against the decision to not grant them a vote in the European Union referendum.

The move comes after Lord Justice Lloyd Jones, sitting with Mr Justice Blake at the High Court in London, earlier ruled that section 2 of the Act did not restrict their rights.

The appeal, which is being led by two British expats, is motivated by a desire to prevent Brexit; an event which would unduly affect the lives of the two million British expats who, should Britain leave the EU, face the possibility of having their lives severely disrupted, together with their plans for their expat regular savings. In fact, according to lawyers representing the expats, they face becoming “resident aliens”.

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Online Banks vs Brick-and-Mortar

The past few years has seen the rise of the online bank, typically the choice of younger generations, online banks such as Monzo, have become increasingly popular and mainstream, now competing with the traditional brick-and-mortar banks. I have been with a brick-and-mortar bank since the age of 15 – my parents took me to open […]

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