Withers Worldwide

The proposed introduction of a 50% rate of income tax has increasingly led UK domiciliaries to consider their reasons for remaining in the UK, put the spotlight on which jurisdictions are still seeking to attract internationally-mobile high net worth individuals, and, in particular, where those working in the financial services industry might choose to base themselves. Similar tax increases in a number of jurisdictions around the world have also led taxpayers to consider relocating under friendlier skies.

This seminar will first look at what trends are developing in the global marketplace and which jurisdictions are seeking to attract high net worth individuals with low or flat tax regimes and easy residence qualifications.

We will focus on the UK and consider what a UK resident seeking to avoid the higher UK tax rates needs to do to give up fiscal residency - not as easy as it might seem.  Further afield we will examine two contrasting alternatives. First, we will scrutinise Asia and what the growing financial centres of Hong Kong and Singapore have to offer for new residents looking to take up employment, start up a business or just relocate. Then the USA with the tax regime in London becoming less attractive, will New York (amongst others) start to benefit as financial institutions focus growth outside the UK?

The speakers will offer an overview of the tax rules and regulations in the USA, Singapore and Hong Kong and also cover the practical issues involved with relocation as well as what pre-immigration planning is advisable.

Finally we will look at whether the UK is still an attractive jurisdiction for non-UK domiciliaries and if, with the correct planning, it can still be considered a tax haven.

Breakfast and registration commences at 8.00am, with the programme running until 10.30am with time for questions.

We hope you will be able to join us for what we expect to be an interesting and thought-provoking session.