My client is UK domiciled but has been working abroad for a number of years as a senior employee in a large company. Now approaching retirement he is planning to return to the UK and has asked for advice on two related points.
First he is to receive a ‘leaving allowance’ from his employer after he has ceased employment likely to be in excess of $100 000. This will be entirely attributable to his non-UK employment carried out abroad. Am I right in saying that as long as he returns to the UK after the cessation of employment the allowance will not be taxable here? Or should he not return to the UK until the start of the tax year after that in which the allowance is actually paid to him?
Second he is considering investing in a ‘company sponsored international savings...
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