click here to email us!

Tax Planning
We will help you to ensure that your financial planning is tax efficient to provide more to you and your dependants and less to the taxman.

Contact us

You are here:

Tax Planning >

How It Might Affect You – Some Examples

How It Might Affect You – Some Examples

Investments domiciled in one country may be tax efficient in that country but tax punitive when you relocate to another country. Many International Expatriates are either paying too much tax or may face punitive taxes when relocating. UK Expatriates are still subject to UK Inheritance Tax unless they take extensive steps to remove their UK domicile.

Some Simple Examples

UK Inheritance Tax:

Many UK Expatriates assume that because they are not resident in The UK that they are not subject to Inheritance or death tax as is it commonly known. This is most definitely not the case. All individuals, irrespective of their domicile status, benefit from an IHT nil-rate band, currently £325,000. Transfers of assets between spouses and between civil partners, whether gifts made during a person's lifetime or transfers of assets occasioned by the death of one of the couple, are generally exempt from IHT.

Where the spouse or civil partner to whom the assets are transferred does not have a UK domicile there is a lifetime limit (cap) on the value of the assets that can be transferred free of IHT. The cap is currently £55,000 - section 18(2) Inheritance Tax Act 1984.

Non-Harmonized Investments for Italian Residents:

Europe has now moved to full exchange of information. Investments held in countries that do not apply exchange of information with Italy are taxed punitively, typically at 43%. It is possible to grow your income in Italy using a bancassurance structure where the only annual tax while your investment is growing is 0.15% withholding.

UK Investment Bond:

If you took out a UK domiciled Investment Bond whilst resident in the UK these carry a withholding tax of 20%. This may be useful whilst you are resident in The UK as it simplifies your tax obligation. If you are an Expatriate this is usually entirely unnecessary.

Tax for International Expatriates is a complex subject. The examples above are merely to highlight some common issues.

Get in touch with us today so that we can help you get started.

Call us on

(+39) 06 4542 9867

Email us

enquiry@unityfinancialpartners.com

Book a meeting with an advisor...

What our clients say about us...

Having retired from the military and deciding to retire in Italy, I wanted a reliable company with people who could explain simply and clearly, how to set up a tax efficient investment compliant for the UK and Italy. Unity Financial Partners provided all of this in spades.

The personal service was excellent, nothing was too much trouble, everything was explained clearly and the set up was very efficient. I can strongly recommend Unity Financial Partners as a Financial Planning company who put the customer first, provide excellent support, sound advice and have set me up to achieve what I want for the future.

Thank You.

David Nield MBE, (NATO Retired)
Perugia, Italy.

The Unity Finance Partners (UFP) team invested a significant amount of time and effort in identifying some major issues with my previous portfolio, whilst also displaying a genuine concern for what, in hind sight, was an unbalanced, unstructured and potentiallydisastrous portfolio. The financial advice offered by Paul Redmond was fit for purpose for my risk tolerance/age, and was presented in a way that a non financial person could easily understand and see the benefit of, and allwithout any form of pressure selling!

The UFP team is extremely professional, approachable, knowledgeable, and a pleasure to work with. They provide a first class service, which I will gladly recommend, given they have provided me with an excellent investment strategy which fits both my short and long term goals.

Brian Ross
Regional Manager Asia Pacific

I appreciate the in-depth work relating to investments and tax which you carried out on my behalf before proposing a solution which takes into account my specific requirements. I look forward to developing our ongoing relationship.

John B. McGhie, (Chartered Accountant)
United Nations, Retired, Rome, Italy

Unity Financial Partners multidisciplinary team have consistently provided me with invaluable financial advice on investments, pensions and retirement planning. The team is efficient and professional and is able to communicate the many aspects of the financial industry in a manner that is straightforward and easy to understand.

The team is approachable, a pleasure to work with and have provided an excellent service in sorting out my finances and helping me plan for my retirement. I fully recommend Unity Financial Partners to anyone looking for sound financial advice and planning.

Richard Holland, (Petrophysicist)
Muscat, Oman

Unity Financial has proven to be an inestimable partner in working my way through the complications of Italian reality, as a non Italian speaker who nevertheless has a home there. The full set of partners, availability, consideration, good advice, good cheer and friendship have made working with them a delight, all this in addition to first rate, professional service and advice.

Dr Alon Goshen-Gottstein, Director,
The Elijah Interfaith Institute,
Jerusalem

On retiring from the UN in Rome, I was confronted with how to invest my savings wisely. Paul and his team at Unity Financial Partners provided calm and objective advice on routes to sensible investments; much appreciated as well, their efforts to simplify the bureaucratic spiders webs. I strongly recommend Unity for those that don't wish to spend a major slice of their life studying investments and tax affairs.

Dr Rod Cooke , ex- Division Director, UN
Rome

Paul and his team at Unity Financial Partners invested significant time and effort in identifying the best solution for me, and in doing so provided me with invaluable advice which was not possible to obtain anywhere else, and which resulted in the most effective tax package with the optimum yield solution for my personal financial situation as a British expat living in Italy.

Anthony Randell, (Chartered Auditor)
Rome, Italy

Receive regular updates and advice from us:

Privacy policy | Sitemap | Complaints policy

Unity Financial Partners Srl is registered with IVASS Reg No: B00035674. Unity Financial Partners is able to passport services throughout the European Union. Unity Financial Partners also facilitates services via a network of affiliated professional partners who are separately registered and regulated in their own right both within The European Union and worldwide. Registered Office: Viale Aventino 80, Rome, 00153. Administration Centre: Via Del Vespro 75, Messina 98122. Partita Iva/VAT Number 11038671001.

© Copyright 2024 www.unityfinancialpartners.com All rights reserved.

Privacy Policy Cookie Policy