Mr. Xavier Chan, Managing Partner of CWK Global Group, advised on taxation issues of Hong Kong residents after moving to the UK

Moving to the UK has become a hot topic recently, but the tax system in the UK is more complicated than that of Hong Kong. Therefore, Mr. Xavier Chan, Managing Partner of CWK Global, was interviewed by the Oriental Daily News and proposed relevant tax arrangements after moving to the UK in order to assist readers for a careful tax planning and hence to reduce the UK tax bill.

Mr. Xavier Chan mentioned the criteria for determining the tax residence status of individuals with connections to the UK, that is, if you spent 183 or more days in the UK in the tax year or has income before 183 days, you will be taxed on your worldwide income. In addition, there are restrictions when it comes to the amount of cash allowed when travelling to the UK, he suggested to open an offshore bank account before leaving Hong Kong and make it convenient to transfer the funds raised by selling assets to the UK from a Hong Kong bank account.

Mr. Xavier Chan, Managing Partner of CWK Global Group, advised on taxation issues of Hong Kong residents after moving to the UK
Mr. Xavier Chan was interviewed by the Oriental Daily News and proposed relevant tax arrangements after moving to the UK

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