Departing the UK Tax Report

When it comes to relocating to Australia, New Zealand or other countries, expert migration advice on your finances is essential.

We can commission independent financial reports, also known as exit reports, for anyone planning to leave the UK. They could include a pension transfer analysis, giving you advice when it comes to moving your retirement savings abroad.

A typical exit report -could include the following:

Recommendations and migration advice

  • All UK Pensions (including offshore planning strategies)
  • Any other UK assets
  • Inheritance tax
  • International annuity
  • Pension drawdown strategies

Recommendations for offshore overseas investment planning, including…

  • Research and guidance on the most tax-efficient products for your funds
  • Recommending the underlying investment
  • Introducing offshore banking options

UK assets (excluding UK pension funds)

  • Pre-migration advice if you are unable to sell your property
  • Tax planning for all your financial assets
  • The disposal of assets minimising liability to UK or Australian capital gains tax
  • Structuring your mortgage so you receive tax deductible interest
  • Keeping tax on rental income to a minimum
  • Mitigating your exposure to UK inheritance tax
  • Avoiding tax payable to Australia on any currency gains when transferring cash to the country

Inheritance tax

  • The steps you need to take in order to break UK Domicile
  • Advice and solutions tailored to any more complex solutions

International lifetime annuities

  • Reviewing and identifying your international income options for a UK pension member
  • Weighing up the advantages and disadvantages of an international annuity over a UK annuity
  • Consulting with you on the steps required to establish an international annuity
  • Implementing the investment vehicle within the scheme
  • Ongoing portfolio management

If you are in Pension Drawdown, our exit report will summarise:

  • The maximum income levels available from your pension, in line with the UK Government Actuary Department (GAD) maximum amounts
  • An appropriate fund (in the UK or overseas) to draw income from
  • On-going investment advice and management
  • Arranging your pension commencement lump sum (PCLS) to be paid in the most tax-efficient way
  • Ongoing portfolio management

When it comes to migration advice and relocating outside of the UK, an exit report can provide you with vital information and guidance on the best places for your money. To maximise your investment and income opportunities and minimise your tax liabilities when you emigrate, contact bdhSterling to request your personalised report. You’ll find our details here.