Client challenge:

Client was relocating back to the UK in stages and wanted to manage their residence, domicile and tax position.

Grant Thornton services:

UK residence and domicile advice. Singapore residence advice. UK pre-arrival planning. Singapore departure advice arising from change in role.

When moving countries, it is important to understand your tax position before you move as there may be opportunities to structure your affairs and time your move to minimise your tax position.

Client challenge

Client was returning to the UK and wanted to plan his return tax efficiently.

The taxpayer had previously resided in the UK with his wife but had spent many years in Singapore already. They were returning to the UK for their children’s education and there was still ongoing discussions about their move date as well as his role with the company.

The Grant Thornton solution

We provide the following services:

  • UK tax residence advice for both husband and wife as the wife was likely to move to the UK with the children first
  • UK domicile review
  • Pragmatic UK pre immigration planning to guide them through how they could shelter offshore income and gains from UK tax.
  • Review of his employment situation and the various options that had been presented, providing UK/Singapore tax analysis and projections arising from the seniors presented, which included various equity plans (stock options, restricted stock, restricted stock units).
  • Review of potential other employment options with third parties including UK/Singapore roles. This included potential structuring of contracts, remuneration and guidance on what he should and shouldn’t do to ensure compliance and minimise tax risks

The Outcome

His wife was able to move back earlier with planning to ensure that she took back sufficient funds to avoid unnecessary UK taxes.

He followed afterwards, managing his travel to delay the commencement of his UK tax residence. He is also aware of his outstanding Singapore tax obligations and reviewing the employer’s clearance forms we were able to save him tax in the 6 figure region due to incorrect filings made by the employer.

We are now working with him on structuring his tax affairs for his future UK/Singapore role.

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