I’m UK-domiciled – what’s my UK tax position? Depending on your domicile and residency status, you may be liable for Income Tax, Inheritance Tax (IHT) or Capital Gains Tax (CGT) on your UK and worldwide income and assets. What should I do about my residential property here? You may find it’s a good idea to sell any overseas properties before returning to the UK, otherwise you may be liable for Capital Gains Tax on your overseas property if you sell after you return to the UK.

What do I do about my offshore investments and insurance? You will need to decide whether to keep or sell your offshore investments to mitigate taxation. You’ll also need expert advice on which UK tax reliefs will apply to your offshore investments once you’re back, and whether your current offshore insurance plans will suit your situation on your return home.

What happens about my retirement planning and pensions? Check whether your time outside the UK will appear as a ‘gap’ in your National Insurance payments, as this can impact your State Pension. If you had a UK pension scheme before you left the UK, you may want to explore how you can boost your pensions savings when you get back.

I need more information around banking, savings, and currency exchange. UK banking has changed over the last few years, and you don’t have to open multiple bank accounts to get the best interest rates. And, since the value of Sterling has declined post-Brexit, it’s worth talking to a foreign exchange provider about the best possible way to convert any overseas funds.

Will my time away impact my mortgage or borrowing ability? Since you may not have paid bills in the UK for a number of years, your credit rating may now be lower, which will impact your ability to apply for financing such as mortgages. You can speak to specialist lenders who understand your position as a returning expat. Now is also the time to review your home loan, interest rates and current mortgage provider.

I may want to contact a Chartered Accountant. A Chartered Accountant can provide clarity on your domicile status, Capital Gains Tax position on a disposal of a UK property or split year treatment – so that you only pay UK tax on foreign income based on the time you were living in the UK.

Returning to the UK is an exciting time for many people, but it also involves a great deal of organisation, forward-planning and important financial decisions. We appreciate too that you may have mixed feelings about your return and will always treat you and your family affairs with sensitivity and respect. Our distinctive Repatriation Service has helped many expats to return home feeling confident and in control of their finances.

Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances. You are advised to seek independent tax advice from suitably qualified professionals before making any decision as to the tax implications of any investment.