Spacecake799

We are looking at returning to England after 5 years here.
My husband has the chance to keep his job here but do it from the UK. Anybody got any advice on pitfalls, benefits, things to consider.

Thanks

Carole

simonmarkellis

Have you been back to England since you first came here? Would reasons you first left not still exist?

Spacecake799

Hi Simon,

No we haven't been back, couldn't afford to. Left for a change and better weather. We would miss the weather but I don't love it enough here to stay.

Carole

chc4me

Pensions, did you transfer your Private Pensions to NZ? If its a 'No', then please ignore. If it's a yes, seek advice as there may be advantages for you moving back to the UK. Happy to provide more information if you post a 'yes'.

Spacecake799

Thankyou, I left it there.

Its just confusing as to where we will pay tax etc. Trying to get as much help as possible.

Carole

chc4me

You will need to pay tax in the country that you are resident, i.e. the uk. Even though your OH may be paid by a NZ company, tax will need to be paid in the UK. Do seek professional advice especially for such matters as tax. You may find that you are due a tax refund from NZ IRD if you leave part way through a tax year.

BEVS

This could be a really first class topic and one that rarely appears here, on this NZ forum, in this way.
If we can all keep this to the practicalities rather than the subjective stuff it will fare really well and be extremely useful to others. This is about Spacecake weighing the odds & doing the sums , just as when people are looking to exit UK.

Things to consider -

Have you got your citizenship because that is the only true way to ensure you can return if you wish to.

Taxation. You pay tax where you are most 'resident'. If you return , then that will be the UK. However, if you leave partway through a tax year then you may be due an NZ tax refund at tax year end, just as when you came here from the UK.

UK state pension. Will you have to 'top up' your NI payments to bring your state pension contributions up to par or will the 5 years NZ contributions count in the UK.

simonmarkellis

That's fair enough Carole, hell of an expense if you get back and decide it really was better here... what about elsewhere in NZ?

sirplug

Don't forget the fluctuating exchange rate may make a big difference, especially if the rate ever makes it back to 3 to 1......

love30stm

Lucky you good luck

BEVS

You are deffo havin' a larf mate. Pensions anyone.

Jordan Tilley

The currency rate is definitely something to consider. 5 years ago the GBPNZD rate was at a high of 3.07. At the moment we are at 1.98. It a very favorable time to be sending funds back to the UK owing to the weaker Pound.

The NZ Dollar rate has been moving between 1.89 to 2.02 during September so it just shows you how much of an impact the exchange rate can have on the amount of Pounds you end up with.

chc4me

One thing to keep in mind is that 'home' is never quite the same. Friends have moved on or their kids have grown up, your favourite shop is a not how you remember it, and you might find yourself wishing for a good coffee made by a real barista.

BEVS

Oh yes. See what you mean. I was thinking back to front. Silly me.

Spacecake799

Thanks for your advice so far.

We have wanted to move back for a while. We have a very small family and wish to spend some time with them.
We never saw much of England or Europe and I would hate not to have the chance to explore.
We have considered the exchange rate. We will be leaving our daughter here so this desicion has not been taken lightly.
My husband has been diven 5 years out of NZ if he wants it with his company, we may not get a better chance than now.
I am very aware of all that will have changed but feel I am drifting here. I know many people love it but my hearts just not in it anymore. Maybe when we sample all things England again we will decide to return.
Our options are open.

Carole