mission

no i pay no transfer fees, because my transfer from LLOYDS here to my IOM LLOYDS is free once a month and the money i transfer from HSBC to LLOYDS are done as cash transactions ie i take out the cash fron HSBC and deposit that into my LLOYDS account, so no transfer fees anyway.

The reason i say two calender years is because not everyone is going to leave dead on the 6th of april and hence two calender years will equal one full financial year.

Meow

No currency exchange charges either then?

Saying two calendar years is misleading and you don't have to leave on 6th April either. Other issues are relevant.

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mission

nope no currency charges whatsoever. Whatever i deposit in AED into my LLOYDS, will then get tranferred into my GBP account in Lloyds IOM at whatever the bank exchange rate is.

And then from my IOM lloyds account i transfer into my UK lloyds account at NO cost whatsoever, since it's all done on the online banking system...i can transfer as much as i want and as often as i want - no transfer charges whatsoever.

And for the record i too am an accountant, although not a tax accountant, but i do also know my sh*t

Meow

Oh dear. You don't realise that you are losing out on each little currency exchange? The banks make a hefty profit from giving you a much poorer rate than the ones you see quoted in the press. No way are you getting all those transfers for free.

You may know about accounting, of which there are may types, but not much about HMRC rules for non-residents.
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mission

as far as the exchange rate is concerned i am always quids in coz my contact is set at a fix exchange rate of 7.33 to the pound - so the lower the fx rate against the pound, the better off i am. And hence i ain't worried about the odd 0.5 of a dirham higher or lower that i might be loosing out on, coz overall i'm making a killing on whatever the current fx rate is.

In terms of dealing with the HMRC - so far i've done all that seems to be required ie filled in P85, followed by the NRL1, i then received an NRL7 and then submitted my online tax return for 08/09 by 31st Jan 10. And paid whatever tax was due.

Bijilo123

Watch the bank fees from the receiving bank.I sent sterling from my Kuwait account with Gulf Bank to my RBS current account - Gulf charged 3 KD per transaction and the rate was good. This appeared in my RBS account as the same sterling amount. When I transferred to my RBS Euro account (ie bought Euros from Gulf bank and wired to RBS) then it cost me the same 3 KD in Kuwait but RBS charged me a combination of comission and senders fee amounting to £30 each time. They are idiots and when I threatened them and pointed out the lack of logic they returned my money - many hundreds of punds by the way.