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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 9026
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How could I reduce my UK tax burden from non-remitted NZ

Customer Question

How could I reduce my UK tax burden from non-remitted NZ income?
JA: Which tax year is this for?
Customer: 2019 - 20 and beyond.
JA: Anything else you want the Accountant to know before I connect you?
Customer: I have been a UK resident paying taxes here since 1994, previous to that I lived and worked in NZ and built up assets in NZ before and after arriving in the UK.
Submitted: 6 months ago.
Category: Tax
Expert:  bigduckontax replied 6 months ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

As an UK resident you are liable to UK taxation on your worldwide income. Thus any NZ income would be included and should be declared, but under the Double Taxation Treaty between the UK and NZ, any tax paid in NZ would be allowed as a tax credit against any UK liability.