Tax Advisory Recommendations - Dual Citizenship

[Michael886]

Hi all,

I'm planning to apply for UK citizenship and will receive foreign income (on annual basis) from my home country (in the EU). Before I go forward with this I therefore need to know what it means in a tax perspective with dual citizenship vs remaining an EU citizen only.

I've been in touch with the HMRC but would like to discuss this with a tax advisor to make sure I'm not missing anything.

Assuming I'm in the right place, could someone please recommend a few advisors with experience in these types of questions?

Thanks for the help.

[maths]

For UK tax purposes the acquisition of British citizenship is tax neutral.

Despite comments often made in articles etc, it does not follow that a UK domicile (critical for UK tax purposes) would automatically arise.

HMRC will not offer any meaningful comments.

Why are you thinking of taking such citizenship?

[Michael886]

Thanks for the quick response.

It's to ensure that I have the right to stay in the UK if the Brexit negotiations go completely south, mainly because of work.

The annual income will be in the form of dividend. I will also be receiving a larger 'gift' in the 6 figure range this year.

The country I'm from is Sweden. There is a treaty stating that you only pay the margin of your country of residence' tax rate if it exceeds the tax rate of the country the income is from. It doesn't really go into details though, and I can't find much information about gift allowance/tax.

Who would you normally turn to if you need professional help with these types of questions?