Tax, Self assessment when becoming an expat
Sep 4th 2022, 5:18 am
#1
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Joined: Sep 2022
Posts: 3
Tax, Self assessment when becoming an expat
Hi All,
(Not sure if this is really the right forum, but there is not a forum for tax advice)
Hope you are well, newby here seeking advice.
Ive done some initial research, but would like direction on the following. I usually fill in a self-assessment tax return as am self employed. However this year i have moved to Asia as digital nomad and will be staying. I wish to inform HMRC that im now an expat, please advise? From research it appears after April 5 2023 i fill in my tax return for 2021/2022 and notify HMRC like that, as im not employed hence dont fill in the p85. Is this correct? Im unsure.
Many thanks in advance
(Not sure if this is really the right forum, but there is not a forum for tax advice)
Hope you are well, newby here seeking advice.
Ive done some initial research, but would like direction on the following. I usually fill in a self-assessment tax return as am self employed. However this year i have moved to Asia as digital nomad and will be staying. I wish to inform HMRC that im now an expat, please advise? From research it appears after April 5 2023 i fill in my tax return for 2021/2022 and notify HMRC like that, as im not employed hence dont fill in the p85. Is this correct? Im unsure.
Many thanks in advance
Sep 4th 2022, 6:14 am
#2
BE Forum Addict
Joined: Aug 2005
Location: Kingston, Tas
Posts: 2,264
Re: Tax, Self assessment when becoming an expat
Nov 23rd 2022, 12:26 pm
#3
Just Joined
Joined: Nov 2022
Location: UK
Posts: 4
Re: Tax, Self assessment when becoming an expat
Hi,
You will need to assess your resident status to confirm that you are non-resident in the UK from the point of departure. From the point that you become non-resident, you will only be liable to UK taxation on UK sources of income. There is a presumption with respect to your self-employment income that it follows your resident status, so once you become non-resident, the business will also become non-resident and thus not taxable in the UK.
Emma
You will need to assess your resident status to confirm that you are non-resident in the UK from the point of departure. From the point that you become non-resident, you will only be liable to UK taxation on UK sources of income. There is a presumption with respect to your self-employment income that it follows your resident status, so once you become non-resident, the business will also become non-resident and thus not taxable in the UK.
Emma
