Morphius

Hi all, great to find this forum, thought it might be a good place to get some tips from those that have gone back to blighty already. Now at age 46 been out in Auckland for 16yrs and going back to live permanently to chester England. I was in full time employment in the uk from 87 to 2000, 13 yrs. I've been in full time employment here in nz since. First question is, because the uk and nz have a reciprocal agreement, will I get full uk state pension when I reach retirement age in the uk ? Also do I need to provide the uk of my tax contributions from nz ? Also am entitled to a tax rebate in nz because I am quitting half way thru a tax year ? I will also be wiring around 450,000 GBP from a bank in nz to the uk. Basically any tax tips or traps to avoid from all of your experiences. Kind regards

HKG3

The OP should also consider applying for New Zealand citizenship before returning to the UK if not already done so.

Morphius

Thx HGK3, yea we have nz citizenship already

BEVS

Hi there and welcome to the wonderful world of BE.
I've been out in NZ for 13 yrs now & wouldn't rule out leaving.

Yes. Let them know & show proof. The NZ years may go someway towards your UK state pension . As you know the UK pension works differently to the NZ super. In simple terms you will need to accumulate enough working years under your belt or top up the contributions. It is rather more complicated than that though so perhaps best to open another thread about this.

Yes. You will want to look into your Kiwisaver also ,if you have one.

quiltman

Why not email the DWP and ask? They are quite good at getting back to you.

Morphius

[QUOTE=BEVS;12199548]Hi there and welcome to the wonderful world of BE.
I've been out in NZ for 13 yrs now & wouldn't rule out leaving.


Thx bev, yes bored

of it here now tbh, done everything there is to do in this hemisphere, seen enough beach to last me a lifetime, selling up in Auckland is an incentive I've got to say too.

Morphius

Yea I'll give that a go thx. Do you know if there is any tax to pay to the uk gov upon transferring money made from sale of a home ?

cyrian

If you pay any tax due in NZ then you are transferring your cash assets to the UK. Depending on the tax year overlap (if any?) you may have to declare the sale and tax paid on a Uk tax return. Double tax treaties should mean that you are not taxed twice.
In the UK, 80% of the population to not complete a tax return because of PAYE.
However, if you have substantial non-PAYE income then you need to complete a tax return.
You will need to provide proof of the source of your capital transferred to the UK e.g. proof of sale of home to comply with UK money laundering regulations.
The more paperwork you have, the better.

Novocastrian

Not if the home was your principal residence.

Morphius

Thx for your reply, these are exactly the kind of traps I want to be sure of, I think I will sit down with a tax accountant after that lot

scrubbedexpat094

Useful to know for when we finally leave NZ. In our 11th year here and can't wait to leave. Hoping to return to Blighty in 2018 (although I'd leave tomorrow if I won the lottery!)

I love Chester, such an interesting place with lots of history and a decent zoo . No idea where we will head for, depends on where OH can find a job. Good time to sell in Auckland, Morphius. Good luck with the move

Celticprince_86

You and me both! I hope to have a couple of grand (10 or so) saved by the end of 2018/start of 2019. I'm from Chester too (Blacon to be exact) and can't wait to get back.

ab.kelly

Hi there! Love these forums ... most excellent!

It's just so tempting isn't it? I mean, we own a house in Auckland ... we are both joint NZ/British Citizens ... and our kids have left the country because they're also joint passport holders...

Couple that with me being 58, the contract job market drying up for me here (I'm in IT security), and the UK IT contract market being so strong...

We spent a total of 13 years in the UK, before returning home to NZ around (also) 13 years now, but have visited in the interim, so aren't looking at the UK through 'rose-tinted spectacles', yeah?

D*mn ... it's just so very tempting ... especially as we planned to retire to Europe anyways...

Sigh!

Morphius

[QUOTE=Celticprince_86;12200491]You and me both! I hope to have a couple of grand (10 or so) saved by the end of 2018/start of 2019. I'm from Chester too (Blacon to be exact) and can't wait to get back.[/Qceltichuntingto Prince, were originally from west derby in Liverpool, hoping to move around huntington chester, good central area for jobs and walking in north wales, good luck with ur plans

Morphius

Hi there, yip I love chester too, where in nz are you ? Good luck to you too thx