In 2010, more international movers than ever will be upping sticks from the UK and heading for foreign soil, yet there’ll also be a load of one-way tickets booked by expats who are returning to British shores.

Moving to and from countries as a place of residence can conjure up a massive can of worms, so these are the key questions you need to be aware of….

TAX RESIDENCY STATUS:

- At what date will I become [new country] tax resident, and at what date will I break [old country] tax residency? (You can sometimes claim tax refunds on either side for working only part of a year)

- Does [new country] give any advantageous tax treatment given my expat status, or am I taxed in the same way as a [new country] citizen? What will my tax classification be? (Jargon here includes tax resident, temporary resident, domiciled, etc. Eg. Temp visa holders in Australia aren’t taxed on their world assets and the UK has a similar lenience for in-pats)

- If I stay longer / shorter than planned how will this impact my tax? Will I be dual tax resident (eg. Aussies in the UK less than 2 years)? What must I watch out for when making plans.

- When I eventually leave [new country], will I break tax residency on the date I fly out or will it still hang over me for a period afterwards?

HOW MY MOVE WILL IMPACT MY FINANCIAL HEALTH:

Assets left in [old country]
- When I arrive in [New country], will they tax my world investments or just money I bring into [new country] (ie. will they tax my investment income on cash, rent, dividends etc left in (old country) or offshore)
- Will [new country] charge any capital gains tax on property I have in [old country] whilst I’m living there?
- Will [new country] tax the annual growth of my personal pension left in [old country]? (eg. A nasty tax suffered by British in Australia)

Tax and deductions:
- What are the income tax rates in (new country) and where can I find calculators?
- What relocation expenses can I deduct?
- What other tax deductions can I claim?

About the (new country) retirement system:
- What pension/retirement schemes could I contributie to in [new country] to boost my retirement?
- When I leave, can I transfer these back to my [old country] retirement fund?
- What tax applies to the contributions if I ’salary sacrifice’ into the scheme?
- What tax applies on the growth each year?
- When can I get the money out (eg. what age), and what tax applies to benefits paid out if I left them in [new country]? Note: retirement systems often provide amazing tax breaks.

About the [new country] investment environment:
- Are there any other tax sheltered savings schemes (that might be similar to ISAs in the UK).
- Is interest on my home mortgage tax deductible? (in some places it is!)
- Is there any capital gains on selling your own home?

There are more than 5 million British citizens living abroad, but only a few thousand of these international movers have registered to vote in the upcoming UK general election, according to Electoral Commission, the UK’s independent elections watchdog.

British citizens living abroad can register as overseas voters if they have been registered to vote in the UK at any time within the past 15 years. Yet of the estimated 5.5 million British citizens living abroad, less than 13,000 overseas voters are currently on a UK electoral register.

Brits living overseas can vote by post or arrange for a proxy to vote for them in a UK Parliamentary election and the Commission has launched a campaign to encourage British citizens abroad to register to vote ahead of the next general election.

Jenny Watson, Chair of the Electoral Commission, said:
“British citizens living abroad come from a wide variety of backgrounds, but we know that most maintain strong links with the UK. It is easier than ever before for British citizens abroad to keep in touch with friends, family and colleagues back home and many will also want to have their say in elections.

“Anyone that wants to register should go to www.aboutmyvote.co.uk for more information and to download a registration form. But as an election can be called at short notice, they should do so now.”

A general election could be called at any time between now and June 2010, so the Commission is recommending that voters register as soon as possible. Voters can apply for a postal vote when they register, but for many people, especially those living outside Europe, the timescales involved will mean a proxy vote will be more appropriate

British citizens living abroad who have registered to vote in the UK at any time within the past 15 years can register as an overseas voter. If someone were too young to register when they left the UK, they can register in the last place their parent or guardian was registered.

House prices will edge up only slightly in 2010 amid continued economic uncertainty, the Royal Institution of Chartered Surveyors (RICS) predicts.

The average cost of a new home will be up by just 1% to 2% by the end of the year, RICS said.

However RICS also thinks that monthly home sales in the final quarter of the year will rise to around 70,000 from the current level of 55,000 to 60,000. It predicts that a shortage of homes available for sale will squeeze prices higher in the early part of 2010 so if you’re looking to buy, it might be worth calling the removals company sooner rather than later.

‘However, the combination of more available property and the beginning of the exit strategy from the big stimulus programs that have helped support the economy will gradually exert a greater influence,’ said Simon Rubinsohn, RICS chief economist.