”Our experience with The Tax Faculty LLP was exceptional. They not only saved us from a potential million-pound tax bill but also demonstrated professionalism and a profound understanding of the intricacies involved in tax laws for expatriates. As professionals ourselves we have always valued good, honest advice and Charles certainly provided that to both of us.”

Mr J - Dubai, UAE

Our Case Study on How UK Expats in Dubai Can Navigate Capital Gains Tax on UK Property

Navigating the complexities of Capital Gains Tax (CGT) in the UK can be daunting, more so for UK expatriates who are now living abroad. For those residing in some of the more tax-friendly jurisdictions such as Dubai, understanding the implications of CGT on UK property sales is crucial. In this post, we explore a recent success story where the expertise of our Managing Partner, Charles Tateson, here at The Tax Faculty LLP significantly reduced a substantial potential CGT bill for our clients.

Introduction

Our clients, a couple who had moved from the UK to Dubai for career opportunities, found themselves facing potential CGT liabilities of over £1 million on their UK property portfolio. As seasoned professionals with successful careers in both the UK and in Dubai, they had built up a substantial set of investments. However, the prospect of such significant tax implications was a major concern when planning on selling the properties or gifting some of the portfolio to UK based family members.

Client Background

The primary challenge here was the potential CGT liability on their property investments, as initially estimated by their previous accountant – obviously causing a great deal of worry to our clients. The complexities of tax legislation for expatriates are vast and often not well understood without a specialist to assist, posing a significant barrier to efficient tax planning.

Challenges Faced

At The Tax Faculty LLP, we pride ourselves on our profound understanding of UK tax laws, including those less known provisions that can be highly beneficial for our clients. Our Managing Partner is a self-confessed “Tax Geek” and thrives on the more specialist areas of CGT. In this case, we applied our specialised knowledge of legislation that many may be unaware of, which pertains specifically to UK expats when selling a UK-based residential property.

Strategic Approach

Through our meticulous planning and strategic application of specific tax legislation, we were able to almost completely mitigate the CGT liabilities for our clients. Their relief was immense, and they praised our professional approach and in-depth knowledge of the tax laws.

Further, recognising the importance of compliance with UK tax filing deadlines, we ensured that all CGT Returns were accurately completed and filed within the 60-day limit following the sale of each property. This prompt filing is crucial in avoiding potential penalties and demonstrates our commitment to providing each of our clients with a comprehensive, reliable service. Our clients were exceptionally pleased with the outcome, not only for the financial savings but also for the efficiency and professionalism with which their case was handled.

Results Achieved

This case highlights the importance of seeking expert advice tailored to your specific circumstances, especially when dealing with complex international tax issues. For UK expatriates living in Dubai, partnering with a tax advisor who understands both the UK and local tax landscapes is crucial.

Conclusion

Expertise You Can Trust:

Our team of seasoned tax professionals at The Tax Faculty LLP boasts years of experience in navigating the intricacies of tax laws. We stay on top of the latest updates to provide you with accurate and reliable guidance.

Tailored Solutions for You:

Every individual's financial situation is unique. Our personalised approach ensures that we understand your specific circumstances, allowing us to optimise your self-assessment tax return filing and maximise your savings.

Efficiency and Accuracy:

We prioritise efficiency without compromising accuracy. Our streamlined processes and attention to detail mean that your tax return will be prepared meticulously, reducing the risk of errors that could lead to penalties.

Why Choose The Tax Faculty LLP?

We understand that it can seem overwhelming when faced difficult decisions relating to your tax affairs. We are here to help provide you with clear and straightforward advice so that you are able to make informed and confident decisions.

Contact us today on freephone 0800 0016 878 or alternatively, you can email us at info@thetaxfaculty.co.uk

The Tax Faculty LLP offer free no-obligation consultations in order to get to know you and your unique circumstances and to tailor a service bespoke to you.

Our Team Are Ready To Assist You

Capital Gains Tax Expertise: The Tax Faculty LLP Managing Partner Charles Tateson Named UK Capital Gains Tax Advisor of the Year 2023

The Finance Monthly Taxation Awards recognises the achievements of tax professionals from around the globe.

Winning such an award is no small feat. It is a reflection of hard work, extensive knowledge, and an ability to navigate the intricacies of the UK tax system.

Read more about Charles and the award here.

Tax Troubles? Contact us Today

How We Work

Step One

We start with a completely free and confidential consultation. This can take place by way of a meeting (over the telephone, video meeting or in person) or by way of email. We get to know you, your circumstances and your requirements.

Step Two

We analyse your situation and your needs in order to identify how best we can assist you. This might involve filing tax returns on your behalf with HMRC, providing advice on reducing your tax liability now and in the future, or a combination of such work.

Step Three

Should you wish to engage us, we would provide you with a fixed fee quote for the work required to solve all of your tax worries. We then complete our work with the highest levels of professionalism, keeping you updated at every stage and taking the stress away.

Why Choose Us?

The Tax Faculty LLP

The Others

Specialist, Proactive

In-House Tax Team

Free Consultations & Calls

Fixed Fees

Aftercare Included

We prefer to get to know you and your circumstances during a free consultation so that we can identify how best to assist you.

Over £225 for 30 minutes on the telephone

You will have a dedicated Tax Faculty LLP Tax Specialist to assist you with everything that you need. No bots, no online forms. We prefer the human touch.

Reviews say that they were unhappy that they were sent to an external person who simply told them to fill in an online form with figures

We aren't just accountants - we're Tax Professionals with years of experience working for HMRC and working for clients like you. We provide advice to reduce tax bills and solve complex problems.

Service is limited to filing tax returns unless you pay more fees for additional consultations which work out at over £450 per hour.

Once we've identified how best to assist you, we provide a fixed fee quote to carry our the work on your behalf. You will be safe in the knowledge that you will never pay more than this fixed fee.

If more time or advice is needed, you pay more. This leads to unexpected and high fees being paid.

Each of our clients are provided with HMRC Fee Protection Insurance, meaning that if HMRC ask any questions, we respond on your behalf - with no added fees being charged to you.

If HMRC ask questions in relation to your tax affairs - guess what? That's right, you pay an added hourly fee for any replies to be written.

Tax Advice

Contact Us

Contact us today on freephone 0800 0016 878 for a free consultation on all Capital Gains Tax issues, or fill out the handy form below and we'll get back to you as soon as possible.

Alternatively, you can email us at info@thetaxfaculty.co.uk or complete the handy form below.

(Please note, non-UK callers may need to call 0207 101 3845 if your line cannot connect to our 0800 number)

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