When you are looking to return to the UK having been abroad for several or many years you need to know what your tax basis will be on overseas income.
Let's first start with the simple premise that the UK normally taxes you on income earned or accrued in the current tax year. This means income you earned during a time that you were not UK resident, is not taxable when you later become UK resident.
This means your 'old' money can be brought into the UK without tax.
If you have income from investments including property accruing in the current year and you return to the UK then normally this income is taxable in the UK from the date that you arrive.
However, if you return to the UK for a short time or you are not UK domiciled then you may be able to consider the remittance basis which only taxes you on income you remit to the UK. This means if you leave the income accruing outside the UK then it is not taxable.
This remittance basis is available to non-ordinary residents and non-domiciles but subject to limits so please get in touch to discuss your circumstance in more detail.
