What is split year tax treatment? How can that benefit you when relocating abroad?

ProACT Sam examines how expats relocating overseas can tax advantage of split year rules as a one off opportunity to use personal allowances to maximise tax savings.

Your inevitable death is be a hardest thing to face in life.

But in a lifetime of financial planning, and in over 20 years of providing expat services, I know that it is one of the most important subjects to face head on.

Capital gains tax (CGT) is due when you sell an asset such as a property, shares or cryptocurrency. However, if you die then CGT becomes inheritance tax which means that your family will pay up to 40% tax.

By taking the right steps and planning ahead you can reduce this liability all the way to 0%.

We’ll be looking at how making a will can help you avoid inheritance tax.

Your last tax return is due when you die - your inheritance tax return.

ProACT Sam discusses how relocating expats can avoid getting caught by full year worldwide tax in the UK.