Many people run a business in the UK and live overseas, for various reasons. It could be family, or lifestyle, or many other reasons that cause you and your business partners to live overseas while you run your UK business. Managing a business anywhere in the world is challenging. The Covid 19 crisis has made some things more difficult for some UK businesses, but not all. There are many success stories. So what happens if your business has suddenly boomed during the Covid 19 crisis? You may now be faced with rising revenues and profits, expanded capacity and stretched resources.
On top of this your travel to and from the UK may be limited. All the parameters of your business and life have changed. So how does this affect your tax and your tax status?
If your UK business is expanding then you may have to spend more time at work in the UK. With more time spent in the UK due to lock down and changing rules and rising revenues you could hear alarm bells ringing about your non-UK resident tax status, and your non-UK resident tax bill. You and your business partners are going well through the Covid 19 crisis but what will the bill be afterwards? The best way to plan for your future tax residency and tax returns as a non-UK resident is to ask a good, professional non-UK resident tax advisor, like The Taxman UK, for some advice.
Our team of qualified, experienced non-UK resident tax advisors will be able to guide you and your business partners through the current changes in your tax residency, any changes in UK tax laws for non-UK residents, calculate and fill in your non-UK resident tax return and file it for you.
With so much going on in your professional life and changes changing all the time. The best way to minimise your non-UK resident tax bill while your UK business is booming is to get some good, professional tax advice. Please don’t hesitate to contact one of our experienced non-UK resident tax advisors by sending us an enquiry at email@example.com for an initial consultation.
Good tax advice will save you time, money and stress, whether your business is good this year or next year.
The Taxman UK “Making Life Less Taxing for non-UK residents”