Leaving the UK-"free" money
#16
Re: 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?
Depending on when you leave in a tax year there is often as small tax rebate based on reapportionment of the Personal Allowance and provided they are in existence when you leave you can continue contributing to a personal pension plan (although only up to GBP 3,600 a year for five year) and get tax relief but free money? Someone is pulling your leg.
#17
Onwards and Upwards!
Joined: Sep 2010
Posts: 884
Re: Leaving the UK-"free" money
Do you really think the UK government just gives away money to expats? Seriously?
Depending on when you leave in a tax year there is often as small tax rebate based on reapportionment of the Personal Allowance and provided they are in existence when you leave you can continue contributing to a personal pension plan (although only up to GBP 3,600 a year for five year) and get tax relief but free money? Someone is pulling your leg.
Depending on when you leave in a tax year there is often as small tax rebate based on reapportionment of the Personal Allowance and provided they are in existence when you leave you can continue contributing to a personal pension plan (although only up to GBP 3,600 a year for five year) and get tax relief but free money? Someone is pulling your leg.
"In most cases only limited ongoing pension contributions can be made whilst someone is non-resident. Provided a personal pension or stakeholder scheme is already in force, an individual can continue to make contributions of up to £3,600 per annum for up to five years after their departure from the UK. With tax relief the cost of contributions would reduce to £2,880."
#18
Re: Leaving the UK-"free" money
I found this advice on this website:
"In most cases only limited ongoing pension contributions can be made whilst someone is non-resident. Provided a personal pension or stakeholder scheme is already in force, an individual can continue to make contributions of up to £3,600 per annum for up to five years after their departure from the UK. With tax relief the cost of contributions would reduce to £2,880."
"In most cases only limited ongoing pension contributions can be made whilst someone is non-resident. Provided a personal pension or stakeholder scheme is already in force, an individual can continue to make contributions of up to £3,600 per annum for up to five years after their departure from the UK. With tax relief the cost of contributions would reduce to £2,880."
It's not a handout.
#20
Re: Leaving the UK-"free" money
There used to be a UK government scheme that paid immigrants to return to their home country, or at least leave the UK. I don't recall what the sum paid was, but IIRC the scheme was cancelled back in the 1980's.
#21
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Leaving the UK-"free" money
The original post is a reminder that not all pencils are sharp.
#22
Re: 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?
#23
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Leaving the UK-"free" money
I remember in the expat property boom that came to Bulgaria in the 2000's, Bulgarians had great problems in understanding why Brits would buy a second home in the Balkan Peninsula. So the story grew that the UK Government was giving Brits cash grants to go and buy houses there. This of course was all part of an evil imperialist plot to colonise Mother Bulgaria. People are capable of believing Total Tosh !