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When To Return Home?

When To Return Home?

Old May 26th 2014, 12:59 pm
  #16  
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Default Re: When To Return Home?

Originally Posted by Bahtatboy
its not all about brick counting.
What else do you count?
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Old May 26th 2014, 3:16 pm
  #17  
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Default Re: When To Return Home?

Originally Posted by mentalist
The Split Year Concession appears to require you to be returning to the UK to work rather than (as in my case) simply taking a year off after having worked overseas for umpteen years...maybe I could take a part-time job somewhere just to comply?

"However, by concession, HMRC will accept a ‘split-year’ treatment for individuals coming to the UK to work (or leaving the UK to work abroad). Consequently, if work is the reason why you have come to (or left) the UK you are only taxed in the UK from the date you arrive here. ‘Work’ for this purpose can be either employment or self employment. If you have come to the UK for any other reason, then the concession will not apply and you will be considered UK tax resident for the whole tax year."
I read this as applying to you, i.e you left the UK for work reasons, so the concession might be avalable the year you return. Why not ask Meow, she's a nice friendly type, other than mixing up her QS's with Engineers?
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Old May 26th 2014, 3:38 pm
  #18  
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Default Re: When To Return Home?

so just for the notebook, when is the best time to return - literally at the start of the tax year? so early April?
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Old May 27th 2014, 6:12 am
  #19  
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Default Re: When To Return Home?

Originally Posted by Blue Cat
got a job in the UK to go to?
No, will be taking a year long Sabbatical. Then, God only knows.
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Old May 27th 2014, 7:00 am
  #20  
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Default Re: When To Return Home?

Originally Posted by mentalist
No, will be taking a year long Sabbatical. Then, God only knows.
Good for you. Definitely the right way to do it.
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Old May 27th 2014, 7:15 am
  #21  
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Default Re: When To Return Home?

Originally Posted by Bahtatboy
I feel I ought to stick up for QSs everywhere and inform the uninformed that its not all about brick counting. But I can't be arsed.
That's right you also push unicycles around and have the cleanest hardhats.
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Old May 27th 2014, 8:31 am
  #22  
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Default Re: When To Return Home?

Originally Posted by mentalist
No, will be taking a year long Sabbatical. Then, God only knows.
then I would say stay here until J is 13 and starting GCSE's
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Old May 27th 2014, 8:43 am
  #23  
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Default Re: When To Return Home?

Originally Posted by Blue Cat
then I would say stay here until J is 13 and starting GCSE's
The company I work for is folding up, that's one reason why I'm leaving. The other is that my family are sick of Dubai. Eleven seems a good age to move back into the real world.
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Old May 27th 2014, 10:23 am
  #24  
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Default Re: When To Return Home?

Originally Posted by kittycat1
so just for the notebook, when is the best time to return - literally at the start of the tax year? so early April?
It depends on how long someone has been out of the UK and what they plan to do on their return, as well as when/if they are plan to remit capital after returning.
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Old May 27th 2014, 10:47 am
  #25  
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Default Re: When To Return Home?

Originally Posted by Meow
It depends on how long someone has been out of the UK and what they plan to do on their return, as well as when/if they are plan to remit capital after returning.
So, if I won't be working immediately after my return to the UK then I will be taxed on all of any earnings/benefits accrued here in Dubai from 5th April to whenever I return? No chance of a split year thingummy. May be best to leave end-March in that case.
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Old May 27th 2014, 11:29 am
  #26  
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Default Re: When To Return Home?

Originally Posted by mentalist
So, if I won't be working immediately after my return to the UK then I will be taxed on all of any earnings/benefits accrued here in Dubai from 5th April to whenever I return? No chance of a split year thingummy. May be best to leave end-March in that case.
but surely you have been out of the uk long enough?? to not be liable for any?
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Old May 27th 2014, 12:22 pm
  #27  
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Default Re: When To Return Home?

Originally Posted by busybee2
but surely you have been out of the uk long enough?? to not be liable for any?
I am talking about the money earned from 5th April 2015 until the date of return. Not a huge amount but it might include a substantial Terminal Benefits payout.
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Old May 27th 2014, 1:13 pm
  #28  
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Default Re: When To Return Home?

Originally Posted by mentalist
So, if I won't be working immediately after my return to the UK then I will be taxed on all of any earnings/benefits accrued here in Dubai from 5th April to whenever I return? No chance of a split year thingummy. May be best to leave end-March in that case.
Not as I understand it - the split year is no longer a concession. Under the Statutory Residence Test, that came into force April 2013, there are now fixed rules defining split years. Your case comes under rule "case 6" - which I understand to say that you are non resident for UK tax purposes up to the date that you stop working overseas (not the day you return to UK). You are classified as resident for UK tax purposes from the day you stop work overseas. I understand that pay earned from working overseas is not taxable even though it is paid after you become UK resident.

Whether you work or don't work in UK is irrelevant to this situation.

Last edited by gottheTshirt; May 27th 2014 at 1:15 pm.
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Old May 27th 2014, 3:56 pm
  #29  
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Default Re: When To Return Home?

Originally Posted by mentalist
I am talking about the money earned from 5th April 2015 until the date of return. Not a huge amount but it might include a substantial Terminal Benefits payout.
yeh it will have your eosb but isnt that not taxed as long as its in the bank before u are resident again in uk?
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Old May 27th 2014, 7:50 pm
  #30  
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Default Re: When To Return Home?

Originally Posted by busybee2
yeh it will have your eosb but isnt that not taxed as long as its in the bank before u are resident again in uk?
I may be wrong, but the tax man (in the corporate world at least) likes to tax accrued income, not received income (one is forward of the other). As such, I would argue that EOSP accrues over a long period, and I would have thought that only a small proportion of this would be liable for tax.

Anyway, this is outside of my area - and almost everyone posting on this board - get proper tax advice.
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