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Old Mutual International Launches Expat Referral Service

The international wealth manager said the launch comes at a time when tax planning has become increasingly complicated in light of the UK’s referendum outcome.
Old Mutual International, part of UK-based Old Mutual Wealth, has launched an expat referral service, offered by EY, to offer expats and non-UK domiciles tax advice amid Brexit uncertainties.
The service, which is aimed at clients looking to move overseas or to the UK, will seek to ensure all aspects of their tax position have been considered before relocation. Over the coming months and years, demand for this kind of service is likely to increase as more detail emerges on the potential legislative changes surrounding the UK’s exit from the European Union, the company noted.
As part of the expat referral service, non-domiciles living in the UK will also be offered a review to help ensure their tax affairs are in order. Old Mutual International clients will have access to a range of advisory services tailored specifically for non-UK domiciled individuals.
“We just don’t know what effect Brexit will have on expats and non-UK domiciles living in the UK or the impact it will have in terms of emigration/immigration. On the one hand, we would expect to see legislation which helps encourage investment into the UK from overseas, but on the other hand, the UK government’s priority could be to raise tax revenue,” said Rachael Griffin, financial planning expert at Old Mutual Wealth.
“Professional connections can be extremely beneficial for advisors and their clients in periods of change and uncertainty. Advisors and their clients will want peace of mind that they are meeting their tax obligations in the country they live as well as the country in which they are domiciled, and the services of a professional tax expert can be invaluable.”