Club77

Hi everyone,

My husband and I plan on moving abroad, probably in Panama.

We will become non uk resident landlord. I called HMRC to know what to do to declare this situation so NRL1 form to fill up.
Then, the officer explained that I won't be able to use my UTR number for invoicing and continue my business as self-employed since I will be declared as non resident.

I cannot get a working permit here and the officer suggested to register as a self-employed in Panama. Not that easy.

Does anyone is in the same situation? What are the solutions?

Thank you everyone

uk_grenada

Panama doesnt tax on foreign income, its a non issue there, so your main issue is ensuring that you dont fail the uk tax residency tests [its not entirely simple] though of course you will still always pay uk tax on uk income.

Its like here really.

Of course you may do better financially to not have uk property but to have money that is invested for growth - no uk tax on non uk basedcapital gains - but thats a bigger question.

uk_grenada

You realise that while you cant add to an isa if non resident, it can exist and enjoy its status, its just that in some other countries they would tax you on it too anyway.