Foreigners Living In The UK Unaware Of Basic Tax Rules, Says Withers

Mark Shapland

22 May 2014

Foreign families living in the UK often have little or no idea about basic inheritance and tax rules, latest research by law firm has revealed.

Only 35 per cent of expats have a will in place, while many who had recently moved said they had not received good enough tax planning advice from their companies.

“Of course, it makes sense for people leaving their home country to get their domestic affairs in order, but this still leaves a majority of people who make the move without writing a will,” said Penny Williams, partner at Withers.

Not having a will can pose serious risks to an individuals wealth and inheritance, the law firm adds.

“For those without any will at all, intestacy rules come into play, and these are unlikely to deal with the estate as the individual would wish or expect, or in a tax efficient way,” adds Penny.

Last month, Withers grew its Hong Kong family practice with two hires.

Withers' family team in Hong Kong now consists of 15 lawyers and advises clients on legal issues related to families, such as divorce, prenuptial and postnuptial agreements, forum shopping, child custody and cross-border disputes.