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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)

Related News

Term Life Insurance, a Priority for the Expat in Germany

Life insurance formLiving in Germany brings a few challenges for the expat. Not only do you have to negotiate the language and the culture you also have to get to grips with the German insurance system, which to anyone whose experience of insurance has largely been confined to the UK can seem incredibly complicated.

Yet, once you overcome your unfamiliarity, and get your head around the innumerable syllables of all the various “komposita” involved, you may be able to take advantage of the system so that it works in your best interests. Finding an expat wealth management specialist who has familiarity with the system and the products on offer is likely to be part of the solution to finding the cover that is best suited to your needs.

For example, finding risikolebensversicherung (term life insurance) is about securing cover for all of life’s eventualities so that your family and other dependents are properly looked after in the event you die before they do.

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