Baku - Money/Tax - UK ?
Jan 18th 2012, 11:17 pm
#1
Just Joined
Thread Starter
Joined: Jan 2012
Posts: 5
Baku - Money/Tax - UK ?
Hello there,
I have just been offered a job to work in Baku and I was looking for some decent informative advice in respect of money and tax concerns mainly. I will be leaving the UK and moving to Azerbaijan in April. This will be the first time for me to take on an overseas role so I am a newbie to this (unfortunately). Hope you can help on topics below:
Money
- How do british expats normally receive and spend money while living in Baku? I think I will agree with the company to pay me into my UK bank account however what will be the best option to make purchase/withdraw money while in Baku that is cost effective?
Tax
- I am hoping to start work on the 5th of April which is being agreed with the company however I just wanted to know from a tax point of view what are the implications if I end up leaving the UK in the new tax year? I heard somehwere that you need at least 2 tax years outside the UK to be considered a non resident. Can any UK nationals also tell me if I need to submit any paperwork/forms to the tax authorities/government prior to my departure to the UK?
Any information on the topics above will be greatly appreciated.
Many thanks
I have just been offered a job to work in Baku and I was looking for some decent informative advice in respect of money and tax concerns mainly. I will be leaving the UK and moving to Azerbaijan in April. This will be the first time for me to take on an overseas role so I am a newbie to this (unfortunately). Hope you can help on topics below:
Money
- How do british expats normally receive and spend money while living in Baku? I think I will agree with the company to pay me into my UK bank account however what will be the best option to make purchase/withdraw money while in Baku that is cost effective?
Tax
- I am hoping to start work on the 5th of April which is being agreed with the company however I just wanted to know from a tax point of view what are the implications if I end up leaving the UK in the new tax year? I heard somehwere that you need at least 2 tax years outside the UK to be considered a non resident. Can any UK nationals also tell me if I need to submit any paperwork/forms to the tax authorities/government prior to my departure to the UK?
Any information on the topics above will be greatly appreciated.
Many thanks
Jan 20th 2012, 10:05 am
#2
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: Baku - Money/Tax - UK ?
I'm afraid I have no knowledge of the tax regime there, but I can say that what has been told to you about tax residency in the uk at2 years is not correct afaik.
Just to help people help you, can you confirm this is a permanent position and you will continue to be employed by a uk company. If so, arent that company helping you sort this out?
Just to help people help you, can you confirm this is a permanent position and you will continue to be employed by a uk company. If so, arent that company helping you sort this out?
Jan 24th 2012, 8:04 am
#3
Forum Regular
Joined: Dec 2011
Posts: 193
Re: Baku - Money/Tax - UK ?
http://www.hmrc.gov.uk/incometax/tax-leave-uk.htm
The rules are on the UK taxman's website.
To summarize
When are you non-resident for UK Income Tax?
You'll be treated as non-resident from the day after you leave the UK if you can show:
•you left the UK to go abroad permanently or your absence and full-time work abroad lasts at least the whole tax year
•your visits to the UK are less than 183 days in a tax year and average less than 91 days a tax year over a maximum of four consecutive years
The same applies to your spouse, civil partner or partner.
The rules are on the UK taxman's website.
To summarize
When are you non-resident for UK Income Tax?
You'll be treated as non-resident from the day after you leave the UK if you can show:
•you left the UK to go abroad permanently or your absence and full-time work abroad lasts at least the whole tax year
•your visits to the UK are less than 183 days in a tax year and average less than 91 days a tax year over a maximum of four consecutive years
The same applies to your spouse, civil partner or partner.
