Made redundant
#31
Forum Regular
Joined: Feb 2004
Posts: 182
Re: Made redundant
Here is again an example where the condition b) has been forgotten. Taking a holiday for a few months would simply not help. You need to be employed for a few months more....
#32
Re: Made redundant
Simplistically put, earnings earned globally are taxable unless you are out of the country for a full fiscal year. What you do for that fiscal year is of no relevance.
Meow will correct me if I'm wrong.
#33
Re: Made redundant
ffs pot and kettle
anyway Zela good luck with all - where is the photo of your motor btw
anyway Zela good luck with all - where is the photo of your motor btw
#35
Re: Made redundant
One thing that we found out is that your foreign earnings will be converted into GBP either at the "current" rate, or at a standard published rate (I think you can choose)... either way, with the GBP so weak, it obviously makes UAE salaries look soooo cushy, but ofc the UK taxman only looks at gross income and doesn't take expenses into account.
I think the threshold for the 40% tax is around the £35k/yr mark, so essentially, you'd be taxed as if you were on a super-high income (which on paper you are, but in reality in the UAE, you're not). Whichever way you look at it, it's going to be a hefty bill.
#36
Re: Made redundant
didnt Little Jimmy lounge around by the beach somewhere fow a while to avoid paying the taxman?