Confused about tax implications
#16
BE Enthusiast
Joined: Oct 2013
Location: Cheshire East
Posts: 588
Re: Confused about tax implications
And I have to agree with robin1234 and Pulaski for sure.
I'm assuming the 'legal advice' was from a dual-qualified accountant? If not, it's likely worth exactly what you paid. If it was, then it's in the accountant's best interest to make it complicated....and hope you will ultimately pay for services. And, in my experience, they also do what's easiest for them, which may well result in you paying tax that you really don't owe.
If you haven't already done so, read through the wealth of info on the HMRC website, particularly the part about qualifying for split year treatment, and tax when returning to the UK.
I'm assuming the 'legal advice' was from a dual-qualified accountant? If not, it's likely worth exactly what you paid. If it was, then it's in the accountant's best interest to make it complicated....and hope you will ultimately pay for services. And, in my experience, they also do what's easiest for them, which may well result in you paying tax that you really don't owe.
If you haven't already done so, read through the wealth of info on the HMRC website, particularly the part about qualifying for split year treatment, and tax when returning to the UK.
#17
Just Joined
Thread Starter
Joined: Aug 2015
Posts: 8
Re: Confused about tax implications
Thanks all for your concern. Yes it was advice from someone qualified to give it and it wont be costing me anything at any point as it was a good friends relative (ok, may cost me a beer when I see him!) I also went through the split year calculator on the HMRC website before I spoke to him and would suggest anyone else thinking of returning to the UK do it too. There are a number of factors to consider, as is typical with HMRC its not clear cut.
Anyway, thanks all for your input.
Anyway, thanks all for your input.
#18
BE Enthusiast
Joined: Oct 2013
Location: Cheshire East
Posts: 588
Re: Confused about tax implications
We also came back in the middle of a tax year. Once I took it slowly, read through the relevant bits, and clarified a couple of things with HMRC, it wasn't nearly as bad as I had initially envisioned.
Sometimes it's the reverse of 'can't see the forest for the trees'; you need to look at the 'trees' that matter, and the forest will then start to appear.
Sometimes it's the reverse of 'can't see the forest for the trees'; you need to look at the 'trees' that matter, and the forest will then start to appear.