Moving back to UK - Tax question...
Dec 17th 2012, 10:01 pm
#16
Onwards and Upwards!
Joined: Sep 2010
Posts: 884
Re: Moving back to UK - Tax question...
Glad you told me that...before I left the UK I spoke to an accountant and he suggested the opposite. He said that HMRC have enough on their plate chasing big companies without worrying about one individual. I replied it would cost HMRC less to chase me than it would for them to chase a big company. He then went silent and I left his office.
As soon as you start working in the UK, you'll show up on the PAYE system and HMRC will automatically spot the gap in your earnings. It this gap is less than a full tax-year, then by default you remain UK Resident for tax and NI purposes. It will take 2 minutes for HMRC to shoot you a Self Assessment Form on which you are legally obliged to declare all UK and overseas earnings. Then they'll send you the bill.
Now this might never happen and you could run the risk of not declaring your earnings to HMRC, but I doubt a qualified Accountant would recommend this to you...
Dec 17th 2012, 10:13 pm
#17
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Moving back to UK - Tax question...
Whether you are paid offshore or onshore has no importance.
Dec 17th 2012, 11:58 pm
#18
Banned
Joined: Dec 2012
Posts: 96
Re: Moving back to UK - Tax question...
OP - this is poor financial advice.
Unfortunately you haven't asked the right question and Meow has given you and poor answer.
The quesiton you need to ask is will you have to pay it.
The tax man will not be knocking at your door, you were paid offshore. The only income which will be looking at is your UK income.
As I said, buyer beware when dealing with Dubai based 'FAs'. If ou want the details of a good tax account, let me know.
Quote:
‘Relevant foreign income’ (RFI) is any foreign income which arises from a
source outside the UK and is not from your employment.
It includes:
• dividends from foreign companies
• profits of a property business (rental income)
• the profits of a trade, profession or vocation which is carried out wholly
outside the UK
• pensions and annuities
• interest
• royalties.
That says quite clearly that income from employment is not taxed.
You'll be fine. Noone will be looking at you.
Unfortunately you haven't asked the right question and Meow has given you and poor answer.
The quesiton you need to ask is will you have to pay it.
The tax man will not be knocking at your door, you were paid offshore. The only income which will be looking at is your UK income.
As I said, buyer beware when dealing with Dubai based 'FAs'. If ou want the details of a good tax account, let me know.
Quote:
‘Relevant foreign income’ (RFI) is any foreign income which arises from a
source outside the UK and is not from your employment.
It includes:
• dividends from foreign companies
• profits of a property business (rental income)
• the profits of a trade, profession or vocation which is carried out wholly
outside the UK
• pensions and annuities
• interest
• royalties.
That says quite clearly that income from employment is not taxed.
Last edited by bahrain saudi; Dec 18th 2012 at 12:01 am.
Dec 18th 2012, 12:02 am
#19
Banned
Joined: Dec 2012
Posts: 96
Re: Moving back to UK - Tax question...
Sorry - but with all due respect Scot, you are an EFL Teacher. I have my six zeros. He'd do well to take my advice over yours. To manage money its always better to have some first.
Last edited by bahrain saudi; Dec 18th 2012 at 12:05 am.
Dec 18th 2012, 12:05 am
#20
Banned
Joined: Dec 2012
Posts: 96
Re: Moving back to UK - Tax question...
Suggest you look for another Accountant.
As soon as you start working in the UK, you'll show up on the PAYE system and HMRC will automatically spot the gap in your earnings. It this gap is less than a full tax-year, then by default you remain UK Resident for tax and NI purposes. It will take 2 minutes for HMRC to shoot you a Self Assessment Form on which you are legally obliged to declare all UK and overseas earnings. Then they'll send you the bill.
Now this might never happen and you could run the risk of not declaring your earnings to HMRC, but I doubt a qualified Accountant would recommend this to you...
As soon as you start working in the UK, you'll show up on the PAYE system and HMRC will automatically spot the gap in your earnings. It this gap is less than a full tax-year, then by default you remain UK Resident for tax and NI purposes. It will take 2 minutes for HMRC to shoot you a Self Assessment Form on which you are legally obliged to declare all UK and overseas earnings. Then they'll send you the bill.
Now this might never happen and you could run the risk of not declaring your earnings to HMRC, but I doubt a qualified Accountant would recommend this to you...
And, a qualified acountant are the best and making you aware of holes.....
bless'em
Dec 18th 2012, 12:19 am
#22
Banned
Joined: Dec 2012
Posts: 96
Re: Moving back to UK - Tax question...
I find deals where others miss them. Where there's muck, there's brass.
Dec 18th 2012, 12:21 am
#23
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Moving back to UK - Tax question...
He is a sh**shoveller. Or a hitman for the Mob.
I am sorry to say that I agree with Johnnyboy
"As soon as you start working in the UK, you'll show up on the PAYE system and HMRC will automatically spot the gap in your earnings. It this gap is less than a full tax-year, then by default you remain UK Resident for tax and NI purposes. It will take 2 minutes for HMRC to shoot you a Self Assessment Form on which you are legally obliged to declare all UK and overseas earnings. Then they'll send you the bill."
I am pleased for bahrainsaudi that his false god Mammon has rewarded him. We do not all bow the knee before his totem !
I am sorry to say that I agree with Johnnyboy
"As soon as you start working in the UK, you'll show up on the PAYE system and HMRC will automatically spot the gap in your earnings. It this gap is less than a full tax-year, then by default you remain UK Resident for tax and NI purposes. It will take 2 minutes for HMRC to shoot you a Self Assessment Form on which you are legally obliged to declare all UK and overseas earnings. Then they'll send you the bill."
I am pleased for bahrainsaudi that his false god Mammon has rewarded him. We do not all bow the knee before his totem !
Last edited by scot47; Dec 18th 2012 at 12:24 am.
Dec 18th 2012, 12:24 am
#24
Banned
Joined: Dec 2012
Posts: 96
Re: Moving back to UK - Tax question...
hahahaha - shit shoveller is closest.
Dec 18th 2012, 12:35 am
#26
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Moving back to UK - Tax question...
Reminds me of that Hillbilly question to the Professor,"If you is so smart, how come you ain't RICH ?"
Dec 18th 2012, 12:35 am
#27
Just Joined
Thread Starter
Joined: Feb 2012
Posts: 17
Re: Moving back to UK - Tax question...
As soon as you start working in the UK, you'll show up on the PAYE system and HMRC will automatically spot the gap in your earnings. It this gap is less than a full tax-year, then by default you remain UK Resident for tax and NI purposes. It will take 2 minutes for HMRC to shoot you a Self Assessment Form on which you are legally obliged to declare all UK and overseas earnings. Then they'll send you the bill.
Dec 18th 2012, 12:36 am
#28
Just Joined
Thread Starter
Joined: Feb 2012
Posts: 17
Re: Moving back to UK - Tax question...
Wow, this thread is getting a bit heated here.... Let's stop comparing penis sizes and keep this on topic.
Dec 18th 2012, 12:41 am
#29
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Moving back to UK - Tax question...
You are only liable for income earned in the UK from your return date - Feb 2013 - the end of the tax year.
You are NOT liable for income earned in Dubai from Jan 2012 - to end of that tax year OR on Dubai incomes in the 2012 - 13 tax year.
Chill, Winston.
You will not, I guarantee you, be hit with a tax bill. Unless, of course, you were working for UK company, paying UK tax and being paid into a UK based account. (and simply on an overseas posting). From your OP, I assume that is not the case!
You are NOT liable for income earned in Dubai from Jan 2012 - to end of that tax year OR on Dubai incomes in the 2012 - 13 tax year.
Chill, Winston.
You will not, I guarantee you, be hit with a tax bill. Unless, of course, you were working for UK company, paying UK tax and being paid into a UK based account. (and simply on an overseas posting). From your OP, I assume that is not the case!
Dec 18th 2012, 1:22 am
#30
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Moving back to UK - Tax question...
OP - this is poor financial advice.
Unfortunately you haven't asked the right question and Meow has given you and poor answer.
The quesiton you need to ask is will you have to pay it.
The tax man will not be knocking at your door, you were paid offshore. The only income which will be looking at is your UK income.
As I said, buyer beware when dealing with Dubai based 'FAs'. If ou want the details of a good tax account, let me know.
Quote:
You'll be fine. Noone will be looking at you.
Unfortunately you haven't asked the right question and Meow has given you and poor answer.
The quesiton you need to ask is will you have to pay it.
The tax man will not be knocking at your door, you were paid offshore. The only income which will be looking at is your UK income.
As I said, buyer beware when dealing with Dubai based 'FAs'. If ou want the details of a good tax account, let me know.
Quote:
You'll be fine. Noone will be looking at you.
Suggest you watch the libellous comments too.
