Mark Davies in the Telegraph on Offshore Income and Gains letters
In order to benefit from the Remittance Basis or reliefs such as Overseas Workday Relief it is necessary to claim foreign domicile on a self assessment tax return and make the necessary elections.
Tax returns must be submitted and the outstanding tax paid by 31 January following the previous tax year ending 5 April.
Mark Davies & Associates can complete your tax return on your behalf ensuring that it is prepared accurately and submitted in a timely manner in order to maximise allowances and reliefs available as well as avoid penalties and HMRC enquiries.
Mark Davies & Associates are specialists in UK tax law for foreign domiciliaries which equips us better than general practice advisers to complete tax returns for “non-dom” clients. Our clients range from those requiring a simple tax return prepared to multi-billionaires with complex offshore structures.
HMRC are launching an increasing number of audits or enquiries into self assessment tax returns submitted by foreign domiciled individuals and being able to rely on the accuracy of their preparation has never been more important.
Many firms ask clients to provide information in a specified format or on-line which semi-automates the process. In contrast, we provide a personal service and our clients are able to meet the adviser who will prepare their tax return. Unlike many of the the larger firms, the same team which advises on your tax planning can also prepare your tax return in line with this planning. Your tax return preparation will not be outsourced to another city or even abroad with the inevitable breakdown in service or communication. Although you can be assured that we use the same standards in our review processes and tax software as the large accountancy practices, our boutique model means that we can offer better value for money.
If you would like us to prepare your tax return contact us here.