Hello everyone,
My post is regarding CRS and tax information exchange.
I immigrated to the UK a few years ago and lived there until 2019. I got a British passport and still maintain a personal bank account with a UK bank, registered to my former residential address there. I also still have an active UK mobile phone number.
I did not notify HMRC (UK taxman) nor the bank that I left the country. I am planning to notify only HMRC about this fact now.
Now I live in an EU country.
I want to open a company account with brokerage companies/banks in:
- USA (for a U.S. LLC)
- Australia and Switzerland (for a company in another jurisdiction, preferably Australia).
I am planning to use my UK passport for ID verification and bank account statement for proof of address when asked by the brokerage companies (as I will be the controlling person/beneficial owner of the companies). Presumably, they will send a CRS report/exchange tax information to HMRC.
My question is: how will HMRC react when they receive a report concerning myself if their records indicate I am no longer a UK resident? Will they somehow notify the tax authorities in my actual country of residence (I have to give them my current address when I notify them of leaving the UK, as far as I know - unless I am wrong?)?
Are there any other considerations I should take into account here?
My post is regarding CRS and tax information exchange.
I immigrated to the UK a few years ago and lived there until 2019. I got a British passport and still maintain a personal bank account with a UK bank, registered to my former residential address there. I also still have an active UK mobile phone number.
I did not notify HMRC (UK taxman) nor the bank that I left the country. I am planning to notify only HMRC about this fact now.
Now I live in an EU country.
I want to open a company account with brokerage companies/banks in:
- USA (for a U.S. LLC)
- Australia and Switzerland (for a company in another jurisdiction, preferably Australia).
I am planning to use my UK passport for ID verification and bank account statement for proof of address when asked by the brokerage companies (as I will be the controlling person/beneficial owner of the companies). Presumably, they will send a CRS report/exchange tax information to HMRC.
My question is: how will HMRC react when they receive a report concerning myself if their records indicate I am no longer a UK resident? Will they somehow notify the tax authorities in my actual country of residence (I have to give them my current address when I notify them of leaving the UK, as far as I know - unless I am wrong?)?
Are there any other considerations I should take into account here?