Changes in your personal life or career may prompt a move back to the UK after time overseas.

Before a move becomes a reality, it’s sensible to try to stay a step ahead and understand the key financial considerations which may affect you. It’s easy to overlook financial planning in the midst of dealing with the practical and logistical elements of a move, so it makes sense to act early and plan accordingly.

Notably moving to the UK can expose you to a significant amount of tax, so it’s vital to take steps to protect yourself. For example, if you are spending ad hoc periods of time in the UK to transition into a new job you may unknowingly qualify for UK residency before you actually move. In addition, moving partway through the financial year may impact on the tax charged on any investments you hold and plan to sell at a later date.

In short it is beneficial, both personally and financially, to plan ahead. A good financial adviser and tax specialist will be invaluable to help you navigate some of the potentially tricky tax matters. The right advice will also ensure you are in the best possible position for moving back to the UK, safe in the knowledge that your financial affairs are in order.

If you have any questions about what you should do next, please get in touch.