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Re: Tax when Living Abroad ?
Originally Posted by kirk_mat
(Post 4919959)
Here's one for ya. I work in Cancun for a mexican company and the taxes are deducted out of my wages. I am starting to make an income online as well, however the commision cheques are sent to my parents house in england, and also by direct deposit into my english bank account and my websites are registered as "individual" not business, but to my English address. Do I pay tax on this income in Mexico or England, or can I get away with paying nothing at all. I live full time in Mexico. Hope this makes sense, thanks in advance for your help guys.
Mat thank you sonia |
Re: Tax when Living Abroad ?
Originally Posted by expatadvisor
(Post 4921377)
I would agree it more appropriate to have an offshore based bank account, stay well clear of the UK. There is a double taxation agreement in force between the UK and Mexico. I think it sensible for your commission income to be paid offshore and then declared in Mexico rather than you have potential problems with the UK authorities. It should also be noted that you can pay tax in two countries, all that a double taxation agreement does it to offset tax paid in one country against a tax liability in another country and vice versa.
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Re: Tax when Living Abroad ?
Originally Posted by soniasmithxx
(Post 4921616)
can you help me out.i'm going to work at a hotel in cancun mexico. just waiting for imigration to let my boss no that i have the all clear to go and work over there. is there anything about the taxes and banks that you can tel me about im with natwest and would of gone over there keeping my same bank i really hav'nt a clue about any thing can you tell me everything you no any little will help me. i'm taking my little boy and i got told that because he will be in a nursery over there whilst i work my tax that gets took out of my wages will go to wards nursery cost do you no anything about that.
thank you sonia Is the Nursery in the hotel, I am not sure about that, the taxes are also dependant on what you are leaving in the UK, so check it out with the Inland revenue direct. They will help you and let you know what is best. |
Re: Tax when Living Abroad ?
Originally Posted by ILoveMexico
Hi Sonia, the problem with the Natwest, you will pay for a transfer when the money is sent to the UK, around 40 quid, then you are subject to the rate that Natwest give you on the Peso to pound, then you will pay around 2 / 3 pound to get your money out of a cash machine and then again will be subject to the new rate, so as an average. You earn 100 Pound, it could cost you over 10 pound to get your money. The hotel will have accounts with the Mexican banks and I am sure they can help you set one up, but its not hard to do it.
Is the Nursery in the hotel, I am not sure about that, the taxes are also dependant on what you are leaving in the UK, so check it out with the Inland revenue direct. They will help you and let you know what is best. Thank you for getting back to me. well i have to find a nursery when i get there. my problem is now benifits(child benifit)and (child support) i can still get these but because of wot you have told me would i need them companies to send the money to a bank i open when i get to mexico and not to my natwest one coz these benifits a directed straight to my bank account every week. so when i set up a bank account when i finally get there .haha. i need to phone who pays my benifits and give them my new details for the money to go into that account. can i ask in stead off all the messing about telling benifits i.m going there for a few months. would they actually find out i hav left the country for a short while i don't understand how they will no unless i tell them. thanks dan xx |
Re: Tax when Living Abroad ?
Hi Guys, thanks for all the help. I heard you could open register your business in the Isle of Man and only pay 250 quid a year tax or something along those lines, I got the info from a resident of the isle of man, what do you reckon about it all, seems a bit funky to me?
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