Financial Advice - Moving ME
 

Hi

Trying to find info on this, played the long game and moving ME in August. I have a flat in UK, which I bought 4 years ago with low mortgage knowing I was moving abroad and can eaisly afford to pay it.

I have no desire to rent it for a while, its a top floor aprtment in a safe area. I will pay CT and use it when home. Expensive storage and holiday home maybe but its my only property.

I am allowed to do that? How many days can I spend in UK - i do get big holidays before having to pay tax. After a few years I may rent it but not immediately.

Re: Financial Advice - Moving ME
 

I can't help much, but this will explain Council Tax obligations on empty properties.
https://www.gov.uk/council-tax/secon...pty-properties

Re: Financial Advice - Moving ME
 

thanks

Re: Financial Advice - Moving ME
 

Establishing tax residency is a complicated thing. You can start by reading this: https://www.gov.uk/government/public...-test-srt-rdr3

Re: Financial Advice - Moving ME
 

Here's a useful flowchart on the UK Statutory Residence Test by KPMG. Allowable days visiting or working in the UK depends on your personal circumstances, as per the flowchart.
Important: The tax year you leave the UK can be split, but only if you are Non-Resident for the whole of the next tax year and meet other criteria (See RDR3). If you leave in August, then you need to become and remain UK Non-Resident until 6th April 2023 at the very earliest, so put that date in your diary because repatriation before then means you remain UK Resident and liable for UK tax on your worldwide earnings as though you never left the UK. Best get specialist advice, it can be more difficult than you think to become and remain UK Non-Resident.

Re: Financial Advice - Moving ME
 

Hi Jimmy Mcnulty,

The rules surrounding residence are complex. Also, split-year treatment is a concession given by HMRC so your individual circumstances would need to be looked at in more detail to determine your eligibility for this concession. Happy to help if required.