Case Studies

The following are all typical cases where Sterling has been able to provide invaluable advice. Are you in a similar situation?

• Having spent several months in both New Zealand and the UK in recent years, Mr A was not sure where he was resident for tax purposes and what his tax obligations were.
  
• Mrs B was resident in New Zealand but was incorrectly advised by the IRD about the tax treatment of her UK pension.
  
• Mrs C had inadvertently failed to disclose UK income for the last 10 years. Sterling helped her to make a Voluntary Disclosure to the IRD to avoid penalties and reduced the tax assessment from about $41,000 to just $13,500.
  
• Mr D had a UK company and ended up paying tax in the wrong country despite having both a New Zealand and UK accountant.
  
• Claiming the 4 year tax exemption in New Zealand is not always beneficial. Mr E and his wife were able to potentially save about $50,000 by not claiming the exemption.
  
• Mr and Mrs F retired to New Zealand but still own substantial assets in the UK. With appropriate planning involving the use of trusts it should be possible to significantly reduce or eliminate the UK inheritance tax liability when they die.