With increased globalisation of our everyday lives and Brexit, UK taxpayers are having to contend with consideration of tax reporting and meeting obligations in non-UK jurisdictions.
Whether you have a non-UK employer who remunerates you partially with shares in a non-UK company or an interest in other business structures, or you have a non-UK holiday home that is let out and generating income, which is received outside the UK, you will have to consider non-UK tax reporting requirements. Similarly, non-UK domiciled individuals often have wealth outside the UK may have dual reporting requirements, or none at all depending on how those assets are structured. This is a complex area and non-disclosure due to ignorance of the rules is not a defence if challenged.
If you have assets in more than one jurisdiction, or work internationally, and to find out more about cross-border tax, get in touch with our expert partner in this field, Yvette Jacobs-Lee.