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#1
02-05-2007, 11:15
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For UK BM's - Changes for 'Tax' Residency
There has been a subtle change to what gets you defines as a UK resident for tax by the Inland Revenue.
'The Revenue states that you are resident if you spend 183 days or more in the UK, or your visits to the country average 91 days or more a year over four years.' This is bit a nasty sneaky way to change the playing field but worth noting. Also there is a shake up with offshore banking (IoM, Channel Islands) now needing to hand over info to the Revenue ... Recommend reading this artcle .... http://business.timesonline.co.uk/to...cle1654070.ece
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Its My Life ..........! 
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#2
02-05-2007, 11:49
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count yourselves lucky Kevin i am controlled by the mafia where i come from-they will always get their piece
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#3
02-05-2007, 12:10
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I have read that loads more US guys than ever are renouncing thier citizenship because of how overseas taxation works out..
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Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#4
02-05-2007, 12:16
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Worth becomming Canadian Paulie ?
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Its My Life ..........!
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#5
02-05-2007, 12:18
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ha ha..
Paulie not flying the flag ?? Cant see that !!!
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Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#7
02-05-2007, 12:42
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doiesnt work that way, i believe i am obligated to the states and since all my business and family is there, i would always need to go back plus, like LIL says, i just couldnt do it sounds crazy but thats me but i need to become a permanent resident so i can start with some side businesses i want to do
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#9
02-05-2007, 12:52
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And the others started buying bars in Patong!!
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Its My Life ..........!
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#10
02-05-2007, 12:57
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Time for global passport ... the idea of nationhood too overated ... 6 billion + people on this planet ... I'm just one of 'em.
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Its My Life ..........!
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#11
02-05-2007, 14:17
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I, always, thought it was an average of 91 days, unless that how could the 183 day rule work? The one point missed there, is that you have to be absent from the UK for a complete tax year - ie if someone leaves the UK on 1st January 2007 and returns on the 2nd January 2008 they won't be classed as non-resident unless they stayed abroad until 6th April 2008. That's one reason I made sure I left UK before 5th April; my boss, who came out ten days after me is kicking himself because he wont become non-resident until 6th April, next year.
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"管它黑貓白貓，會抓老鼠的就是好貓"
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#12
02-05-2007, 15:37
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Luke
I have never heard of being absent for a whole year before, my first year away i was still spending about 100 days in the country, but made sure to average that down to less then 91 per year over the next 3 years, i claimed non-resident and paid zero tax, and i still got a refund of about 4 pound  , all seems OK for me as i have an accountant who deals with all of this for me.I was scared opening this thread as i thought they were going to cut the amount of days allowed in the UK even further, i have been hearing about this for a while, but hope it does not happen. Anyway, about 3 weeks in the UK a year is enough for me.
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#13
02-05-2007, 16:00
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Yeah Simon when i started working overseas years ago I had my NT status within a few weeks, but actually talking to one of the guys here at lunchtime who has just started working here (1st time abroad) he confirmed that he has to wait the one year qualifying period.
The only thing I remember is that I opted out of paying national insurance but continued to pay this for one year then it was reimbursed 5 days in the last three years, well below average 555555 KK boy
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#14
02-05-2007, 16:04
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Simon, the point I was trying to make is that you can't claim non-residency from say 1st January 2006 to 1st February 2007; but you can from 1st January 2006 to 6th April 2007.
The former doesn't include a full tax year but the next one does. Obviously you need to adhere to the 183 and 91 day average rules. Another trick I note is now including the day you arrive and the day you leave as "in the UK".
__________________
"管它黑貓白貓，會抓老鼠的就是好貓"
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#15
02-05-2007, 16:26
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Ok guys, as long as we are OK i guess we are not going to worry about it, but that one year thing would be terrible, imagine a funeral or something you had to attend, would screw you up completely
 KKboy mentions national insurance, do any expats still pay it?? does anybody think it would be worth paying for any reason? cheers folks Simon
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#16
02-05-2007, 16:59
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I think Sweden it easy, if you spend more than 6 months outside the country each year then you are not a 'tax' resident, I think you need to "register" yourself in another country too.
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#17
02-05-2007, 23:16
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Yes - I pay it makes sense as I was working in UK long while and so worth getting pension entitlement (thats if us guys are ever allowed to retire - who knows the retirement age my get jacked up to 80).
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Its My Life ..........!
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#18
02-05-2007, 23:22
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Another IHT Nasty
This is for UK BM's who are married with a property worth over 300k GBP.
Just been a court ruling that both partners may not use their 300K IHT threashold seperately. Revenue closes inheritance tax loophole - Tax | Inheritance tax | Income tax | Tax returns - MSN Money UK
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Its My Life ..........!
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#19
02-05-2007, 23:24
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Its kinda wise too.. Tho I never have..
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#20
03-05-2007, 00:44
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Thats true. My brother has just been informed by his Channel Isles bank they have disclosed all his account details to the Inland Revenue 
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I want to die peacefully in my sleep like my Granddad Not screaming in fear like his passengers
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#21
18-05-2007, 13:53
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I was "NT" from 2001-2005 and the advice given to me by my accountant was to spend as few days as possible in the UK in the first year, this helps keep the average down below 91 for subsequent years. There is a lot more to UK "NT" status than has been posted here, but the main rules are (sorry for repeating some)... 1. No more than 183 days should be spent in the UK in any 1 tax year. 2. You must maintain an average of less than 91 days, based on a 4 year "rolling" average, i.e. you cannot disappear cmpletely for 3 years and then use those "zeros" to keep the average down for the next 3/4 years. 3. Days spent in the UK are not actually days, but nights. E.g. if you arrive on Friday and then leave the following Monday, you have only been "resident" for 3 days, regardless of what time you arrive/leave. 4. You must be away for a full tax year to start with (see previous posts for more details). 5. Sickness does not count towards your "residency", i.e. if you visit family/friends and end up in hospital for 6 weeks, keep the medical certificates, as these will prove you were not able to leave the country and those days don't count in your calculations. My recommendation : get yourself an accountant and for the sake of GBP300 (approx), let him/her advise you. Also, keep a record of all dates and spent in and out of the country (e.g. spreadsheet) and submit this with your tax return. Quote:
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Only a woman can break his spell. Pure in heart who will offer herself Last edited by dizbuster : 18-05-2007 at 13:55.
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#22
18-05-2007, 14:39
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I like the number 5 in your list and had forgotten that i had planned to use this one myself a few years back, was sent home to UK from Africa with Hep A, was looking into it but still managed to be under the days, so no need.
As for pension contributions, i have 40 more years until i would be eligable, does anybody think that state pensions will still be around then?? Also for me i reckon my retirement will be in property and a good company pension which i add all that i can to. Cheers for the all the info diz and folks 
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#23
18-05-2007, 17:52
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Took three tax years
When I came out here it then took me three years doing the self assessment forms to the Inland Revenue.After that they changed my tax status to Not Ordinary Resident.
 I still have to apy a little tax on my military pension each month so they are still getting some blood out of the stone.  And before any of you smart assses start I knew I was Not Ordinary. 
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#24
21-05-2007, 05:06
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