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Expat Tax FAQs

Below are some of the Expat tax FAQs we receive, but if there is anything you are unsure about or if you have a questions not covered below, please don't hesitate to contact us.

1. Which country do I pay income tax in?
2. Do I have to pay tax in the U.K. and the country I work in?
3. Will I have to Pay National Insurance contributions when working abroad?
4. Will I still be eligible for tax credits in the U.K.?
5. When will I need to submit a tax return?
6. Will I get a better tax rate if I open a new bank account in the country I move to?
7. In which country will I pay tax on my pension?
8. Why Pryce Warner?
9. What are the benefits of tax planning?
10. Isn't tax planning highly complicated?
11. How does being an expat effect my tax planning options?
12. Who handles my tax planning?
13. How can I be sure that all my information and finances will be handled securely?

1. Which country do I pay income tax?
A. If you will be living and working abroad for more than six months you will be obliged to pay income tax in the country you are moving to.

2. Will I have to pay tax in the U.K. and the country I work in?
A. No, the U.K. has special double taxation agreements with all E.U. countries and many others to ensure that this does not happen.

3. Will I still have to pay National insurance contributions when working abroad?
A. No

4. Will I still be eligible for tax credits in the U.K.?
A. No, but Pryce Warner can ensure that any similar tax credit systems in other countries are taken advantage of.

5. When will I need to submit a tax return?
A. This will vary depending on the country you are moving to. Most European countries have their end of the tax year correspond with the calendar year. For countries outside the E.U. we can advise as appropriate. Simply call one of our advisors for more details.

6. Will I get a better tax rate if I open a new bank account in the country I move to?
A. No, but having a bank account in the country you move to will mean that you do not lose out on currency exchange fees during bank transfers.

7. In which country will I pay my pension and the associated tax?
A. Your pension should remain in the UK and pension contributions will be taxed according to UK rates. However, if you are planning on living abroad for a very long period of time or retiring abroad, it is possible to move your pension and get a better tax rate.

8. Why Pryce Warner?
A. In addition to tax planning solutions Pryce Warner also offers investment services, estate planning, will writing and pension planning. As all of these services tie in closely to overall tax planning, we believe it is in the interest of clients to have all of their assets managed under one roof. This way, you can more easily keep track of how your various assets and incomes affect each other, as well as get more comprehensive feedback and advice on how to best plan for your future.

9. What are the benefits of tax planning?
A. Proper tax planning is vital to your financial wellbeing for a number of reasons. The main benefit is ensuring that you are paying the correct amount of tax and that you are getting all the returns and breaks you are entitled to. As tax planning also effects your pension, the long term benefits are greater financial security and confidence that your assets are working for you in the most effective manner possible. If your tax affairs are not handled properly, you risk being audited or owing large sums of money in unpaid tax. With over 30 years experience, Pryce Warner International are able to ensure that this never happens.

10. Isn’t tax planning highly complicated?
A. When moving to live and work overseas, the tax procedures in a new country can seem overwhelming at first. However, with the right guidance and support, you will find that navigating an alien tax system can be relatively easy and stress-free. Pryce Warner International presently have clients all over the world. This has provided us with invaluable experience when dealing with tax systems the world over. With our expert knowledge you will be able to achieve full compliance and good retention, all completely stress-free.

11. How does being an expat affect my tax planning options?
A. Being an expat means that you will have to pay income tax in the country you now work, and you will lose any tax credits or breaks that you received in your previous country of residence. However, many countries will have myriad tax credits and savings that you will be able to take advantage of. Pryce Warner are here to make sure you are able to claim everything you are entitled to.

12. Who handles my tax planning?
A. Your tax planning would be handled by one of our expert personal advisors. See our contact section for details on how to speak to one today.

13. How can I be sure that all my information and finances will be handled securely?
A. With over 40 years of experience in handling expat financial planning, we deeply understand how important it is to handle client's information with the utmost care and confidence. This is why all your information is stored in our secure database and is only accessible by you and your advisor.

International Tax Planning Guide


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