Overseas
Income/Gains
UK tax laws can be particularly complex for individuals with overseas income or foreign gains. We provide clear advice and practical support for clients with cross-border tax matters, covering income from property, investments, employment, and business interests held abroad.
The rules around tax on overseas income depend heavily on your residence and domicile status. UK residents are usually required to declare their worldwide income. This includes overseas gains, which may arise from selling foreign property, shares, or investments.
Understanding UK Tax on Overseas Income and Gains
The UK applies a worldwide tax basis to individuals classed as UK tax residents. This means:
- Foreign income, such as dividends, interest, rent, or pensions, must be reported to HMRC.
- Overseas gains, including profits from selling foreign assets, are often subject to UK Capital Gains Tax.
- If you are non-domiciled, you may claim the remittance basis, limiting UK tax to income or gains brought into the UK — though this comes with its own rules and charges.
Our team helps clients comply with UK tax on overseas income by determining how and when this income should be declared and taxed.
Double Taxation Relief
Paying tax on the same income in two different countries is a common concern. Fortunately, the UK has agreements in place with many jurisdictions to prevent this.
We advise on claiming double taxation relief, ensuring you’re not taxed twice on the same stream of income or gains. The process depends on the type of income, the country involved, and your own residency status. Claims must be made correctly and supported with proper documentation.
Foreign Gains Tax and Reporting
Foreign gains tax obligations can be overlooked, especially when assets are held in offshore accounts or trusts. HMRC is increasingly focused on overseas disclosures, so accuracy and timing are vital. We assess whether any overseas gains are taxable and assist with all necessary declarations.
International Tax Planning and Ongoing Support
Effective international tax planning is essential for individuals with global financial interests. Our services help minimise exposure to unnecessary tax charges while maintaining full compliance with HMRC requirements.
We provide:
- Tax return preparation for individuals with overseas income
- Reporting and relief claims for foreign gains
- Liaison with foreign advisers for coordinated planning
- Advice on the remittance basis and domicile considerations
- Support during HMRC checks or enquiries
Who We Assist
Our services are relevant to:
- UK residents receiving dividends, rental income or pensions from overseas
- Individuals with business activities abroad
- Non-doms using the remittance basis
- Those selling or holding foreign property and shares
Beneficiaries of offshore trusts or foreign companies
Talk to Us
If you receive income or hold investments overseas, it’s important to address your UK tax position early. From claiming double taxation relief to accurate reporting of overseas gains, we’re here to support you with reliable, straightforward advice.
