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Leaving the UK-"free" money

Leaving the UK-"free" money

Old Feb 24th 2016, 10:02 am
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Default Leaving the UK-"free" money

Hi all - I've repeatedly read that once a British citizen officially leaves the UK (becomes a non-resident), HMRC (or other government agency) "gives" that citizen "free" money (in some form) but, as always, when you're looking for something you cannot find it. Could someone give the name of this scheme, please?
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Old Feb 24th 2016, 10:23 am
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Default Re: Leaving the UK-"free" money

Free money you say? I think we would all be over that offer like a tramp over chips, except it must be one of Jeremy Corbyns pie in the sky dreams.
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Old Feb 24th 2016, 10:25 am
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Default Re: Leaving the UK-"free" money

No, I've seen it a few times posted on these boards. Some pension/NI contributions, I think? £2500ish. Can't be claimed retrospectively.
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Old Feb 24th 2016, 10:25 am
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Default Re: Leaving the UK-"free" money

Originally Posted by starsky_ View Post
Hi all - I've repeatedly read that once a British citizen officially leaves the UK (becomes a non-resident), HMRC (or other government agency) "gives" that citizen "free" money (in some form) but, as always, when you're looking for something you cannot find it. Could someone give the name of this scheme, please?
'Pigs flying' is the name of the scheme.

The only 'free' money you might get is a tax refund, if you are lucky, but that will be taxed where you move to.
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Old Feb 24th 2016, 10:44 am
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Default Re: Leaving the UK-"free" money

Maybe a tax rebate is what is meant here. If you have overpaid on the PAYE, you MAY get a tax rebate. Alas the Inland Revenue closed the very helpful Enquiry Offices.
Another possibility is that your informants are thinking of a VAT refund. If you are in UK and pay VAT while resident elsewhere you can have the VAT refunded provided you export the goods that you have bought.
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Old Feb 24th 2016, 11:58 am
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Default Re: Leaving the UK-"free" money

I heard this is how the torys are gonna sort the immigration problem.

Give British citizen's free money to leave (to stop moaning)
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Old Feb 24th 2016, 12:01 pm
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Default Re: Leaving the UK-"free" money

He's talking about the ISA thing right?

Where you can still have one and get a grand or two of 'free' interest regardless.

Johnnboy has posted about it before I think?
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Old Feb 24th 2016, 12:57 pm
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Default Re: Leaving the UK-"free" money

I think he might be referring to tax deductable contributions to his UK pension scheme.

He may have the option to remain contributing to his UK company pension scheme and receive the tax deductions as if he were still a UK resident (for up to 5 years I believe).

ie. He can contribute GBP 80 per month to his company pension scheme, and the government will top it up to GBP 100 (assuming the tax deductable allowance is 20%) - so he gets GBP 20 free money for every 80 he contributes to his UK pension scheme (there is a limit on the total contributions (from memory somewhere around GBP 3k to 4k per year. So up to about £800/year for 5 years could total about £4k free money.

Not sure if the rules have changed, but the above applied to me approx 10 years ago when I left the UK.
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Old Feb 24th 2016, 1:10 pm
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Default Re: Leaving the UK-"free" money

So it could be a refund of contributions to a Pension Fund ? That sounds possible. OP does seem a bit vague. Not sure that he should be out on his own.
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Old Feb 24th 2016, 3:44 pm
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Default Re: Leaving the UK-"free" money

Originally Posted by iggle View Post
I heard this is how the torys are gonna sort the immigration problem.

Give British citizen's free money to leave (to stop moaning)
I'm gonna complain, no-one paid ME to leave the country
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Old Feb 24th 2016, 3:47 pm
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Default Re: Leaving the UK-"free" money

Originally Posted by Pollyana View Post
I'm gonna complain, no-one paid ME to leave the country
Maybe it's an incentive to make more room for refugees
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Old Feb 24th 2016, 3:55 pm
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Default Re: Leaving the UK-"free" money

I have a friend in Nigeria who has some free money that he's looking to transfer out of a Swiss account owned by his late father.
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Old Feb 24th 2016, 4:00 pm
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Default Re: Leaving the UK-"free" money

It's true! Well, sort of. Complete Form P85 when you leave the UK and you'll likely get a tax rebate if you have been paying tax and NI through PAYE as your deductions are based on assumed earnings throughout the tax year. I received several cheques when in Paris amounting to nearly a thousand pounds as it prompted HMRC to check my tax record and there were several years where I had overpaid. It's not really free money, rather HMRC giving your own money back to you.

https://www.gov.uk/tax-right-retire-abroad-return-to-uk
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Old Feb 24th 2016, 4:12 pm
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Default Re: Leaving the UK-"free" money

Originally Posted by BritInParis View Post
It's true! Well, sort of. Complete Form P85 when you leave the UK and you'll likely get a tax rebate if you have been paying tax and NI through PAYE as your deductions are based on assumed earnings throughout the tax year. I received several cheques when in Paris amounting to nearly a thousand pounds as it prompted HMRC to check my tax record and there were several years where I had overpaid. It's not really free money, rather HMRC giving your own money back to you.

https://www.gov.uk/tax-right-retire-abroad-return-to-uk
I already told him that - he's posted the same thread elsewhere - but he's convinced there's a £2,500 leaving present you can claim!
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Old Feb 24th 2016, 4:21 pm
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Default Re: Leaving the UK-"free" money

Originally Posted by BritInParis View Post
It's true! Well, sort of. Complete Form P85 when you leave the UK and you'll likely get a tax rebate if you have been paying tax and NI through PAYE as your deductions are based on assumed earnings throughout the tax year. I received several cheques when in Paris amounting to nearly a thousand pounds as it prompted HMRC to check my tax record and there were several years where I had overpaid. It's not really free money, rather HMRC giving your own money back to you.

https://www.gov.uk/tax-right-retire-abroad-return-to-uk
As you say, its not free money,its your own being given back, I did get that, spent it long ago....I just want the free stuff now!
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