Robert, an executive in a New Zealand tech company, contacted us about his United Kingdom investments that he’d held for six years. He’d been paying tax in the United Kingdom but had never declared his investments to Inland Revenue in New Zealand. He didn’t know if he should declare them or what would happen to his tax position when he did.
- We advised him on his tax obligations in the United Kingdom and New Zealand.
- We were able to calculate his New Zealand tax liabilities and assisted in making full disclosures to Inland Revenue.
British rental property
Joanna contacted us asking for advice about the implications of transferring her United Kingdom pension scheme. During the course of our discussion it emerged she had a United Kingdom rental property which was making a loss. She was filing United Kingdom tax returns but had not declared them in New Zealand.
- We filed a revised New Zealand tax return incorporating the United Kingdom rental income.
- Because of the accumulated tax losses this resulted in a tax refund.