South African expats in the UK may face increased taxes on their South African assets due to changes in UK tax regulations.
There are proposals to get rid of the current tax breaks enjoyed by SA expats in the UK. Image: RawpixelThere are proposals to get rid of the current tax breaks enjoyed by SA expats in the UK. Image: Rawpixel
In March, the UK’s governing Conservative party put forward proposals to get rid of the current tax breaks that UK-resident. If approved, from 6 April 2025, UK-based Saffas will be taxed on SA-earned income – whether that comes from disposing of SA assets, or withdrawing SA retirement savings.Under the current regime, foreign income and gains would escape the UK taxman unless the individual remitted those funds to the UK.
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