Nicolson Accountancy

Nicolson Accountancy, Accountants of choice

Call us free on 0800 731 2707

FOREIGN TAXATION

More and more taxpayers are having an involvement with foreign tax issues. If you are UK resident, then your worldwide income is taxable in the UK although you may be able to offset some or all of any foreign tax paid.

We can help establish if you are liable to any tax in the UK.

Some scenarios are simple: dividends from Santander.

Others are more complex: but we can deal with almost every double tax issue arising in almost every jurisdiction.

If you are employed in a foreign country; have part of your income taxed in various countries or require to meet special criteria in order to claim relief, then we can help you.

Our systems are geared to delivering a comprehensive tax service to clients irrespective of the pan-national issues arising.

CASE STUDIES

A client was employed by a multi-national company in a former Soviet country and for many years we had helped him make a claim for double tax relief on his foreign income. During the tax year, he changed employers, but was still paid in US Dollars into a UK bank account for work done in Central Asia. As a result he was liable to a restriction in the offset of foreign tax against his total income. We were able to work with the client to maximise the amount of foreign tax that could be claimed against the UK tax liability, and hence keep the UK tax liability to a minimum. As a result of the experience, the client now consults with us in advance of changing employers, to ensure that the timing is at the most beneficial. When you are paying 40% tax this is important.

We act for many clients working in Norway, or who have suffered Norwegian tax. Clients expect us to complete Norwegian Tax returns electronically and ensure that the Norwegian tax issues also appear on their UK Tax Returns in the most beneficial manner. We are currently working with a number of clients to renegotiate their employment benefits to ensure that any benefits are taxed in the lower tax country (normally the UK) and that they can maximise their claim for allowances in the higher tax country - usually Norway.

A seaman for whom we have acted for many years recently suffered tax in three countries and had to submit three tax returns, two of which were repayments and the UK tax return had to reflect the totality of his total worldwide income, whist claiming relief for net foreign tax suffered. Of course the foreign countries charge tax on the calendar year basis, which further complicated matters...... But we have the knowledge and ability to sort this quickly and efficiently.

SPECIALIST SERVICES

We can provide international tax advice, specifically in Norway and the Netherlands. For Norwegian and Dutch tax advice then please visit out specialist tax advice sites:

Norwegian tax for employers and employeesNorwegian tax made simple
Dutch tax for employers and employeesDutch tax made simple