Tax
#1
Forum Regular
Thread Starter
Joined: Dec 2007
Posts: 32
Tax
You live abroad, but save money in the uk. If you let your savings grow in the UK, will you have to pay tax on them? For example, Investment Trusts...
#2
Re: Tax
If you have UK income, it is subject to UK tax. This assumes you are UK domiciled - 99% of UK residents where now or previously are.
You have to pay tax on income above your personal allowance - £5,035 in the tax year 2007/08.
Note however that if the investment trusts are in an ISA, this can be retained, even if no-resident and the dividends are not taxable.
#3
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Tax
For further information on this topic, please visit:
www.iagreetocontributetomeowschampagnebash.com
There you will find many people from The Bored in a similar position to you.........