Internationally mobile Expats often have complicated tax positions, being potentially liable for tax in a number of jurisdictions. The recently introduced Common Reporting Standard (CRS) has introduced exchange of financial information on an intergovernmental level and “big data” utilisation means that governments can actively chase tax “evaders” very efficiently.

The UK has introduced legislation enabling Her Majesty’s Revenue and Customs (HMRC) to directly withdraw assessed tax from bank accounts from suspected tax avoiders, ensuring that you need to prove your innocence to get your money back. This is becoming increasingly prevalent as debt burdened governments seek to maximise their tax revenues. Internationally mobile expats and foreigners are an easy target, as governments don’t lose many votes.

By ensuring that your tax position is clear and that your assets are properly organised, your BMP Wealth manager can help you avoid costly and time-consuming tax investigations and reduce the tax take on your investment returns. That means your money grows more quickly.

We prefer tried and trusted, non-contentious strategies, which are designed to at least defer or reduce taxation. Whilst BMP Wealth does not provide tax advice, we have an abundance of experience in knowing what works and what does not and we work with leading professionals in the trust and taxation field.