UK Taxman Story No 465........
 

.........although as the article quotes you-know-who, it might need a bucket of salt. Meow?

http://www.arabianbusiness.com/thous...x--408435.html

Re: UK Taxman Story No 465........
 

Funnily enough, I am about to do a radio interview for ARN on just this topic.

Let's make it clear, this is speculative, based on an HMRC consultation document (a thrilling 40 page missive that I have been reading in detail) that was issued a couple of weeks ago. The rules have not changed in the current tax year and I do hate the scaremongering that goes on.

In short don't panic now, as the proposals are quite likely to be altered before becoming law, probably from 06/04/12.

I'll be writing about it properly in the next couple of days, so bear with me and I'll put up the link when I do.

Re: UK Taxman Story No 465........
 

So another kick in the wedding equipment for VD for getting it wrong?

Re: UK Taxman Story No 465........
 

Not wrong exactly, but these are only proposals. This could all change significantly before it makes it to the Finance Bill. I just don't see this suggestion of anyone working in the UK for 20 days in a tax year being taxed (and their employer too presumably if it is a UK company) being passed into law. The last thing the Government wants to do to negatively affect business.

I do think that people who work overseas but whose family reside in the UK, own a home there, remit all their earnings to the UK and visit regularly could have issues, but that's been in the cards for a while.

Re: UK Taxman Story No 465........
 

Can you elaberate on this please?

Thanks.
John.

Re: UK Taxman Story No 465........
 

It's been mooted for some time that someone in that situation should be treated as resident for tax purposes. The HMRC suggestions only form a consultation document so there is little point in going into all their ideas in much detail, but suffice it to say that the rules will be tighter with various conditions that will have to be met to be treated as non-resident in addition to the current one of simply days spent in the UK.

Re: UK Taxman Story No 465........
 

Interesting......do they have a projected time scale or is this on 'the list'
:)
Thanks.
John.

Re: UK Taxman Story No 465........
 

The consultation period is open until 9th September and anyone with an interest can contact HMRC with their specific thoughts and concerns. They will then go away and review all the responses and it is expected that the changes will be published as part of the Finance Act becoming law at the start of the next tax year on 6th April 2012.

Re: UK Taxman Story No 465........
 

Wondeful :(

Best Keep an eye on that then....maybe its not such a good time to accept that offer after all lol.
Thanks for the info :)


John.

Re: UK Taxman Story No 465........
 

I think that only a minority of people will be affected. Anyone that moves overseas with their family and doesn't breach limits regarding permissible days in the UK is unlikely to be affected in any way.

As soon as I find the time I'll be writing in my blog/website in a bit more detail and will also write about what transpires so you could always subscribe to be kept informed. I assure you that what I write will be much easier to follow than the standard missives from HMRC. ;)

Re: UK Taxman Story No 465........
 

After having been a UK tax non-resident for 13 of the past 15 years, my family have just returned to our home in the UK while I continue to work at a remote site in Canada. I took tax advice that confirms that because my home is in the UK, my family is now in the UK, my children now attend school in the UK, and I return to the UK on my days off, there is NO WAY that the Inland Revenue will consider that I am not resident for UK tax. Ah well, I had a pretty decent run. Actually, it's fair enough... we are using the services.

The old way of you simply being out of the country for x days per year no longer cuts it.

Re: UK Taxman Story No 465........
 

Meow please do an article on tax avoidance

Re: UK Taxman Story No 465........
 

Why? I thought you claimed to be some sort of financial expert.

Re: UK Taxman Story No 465........
 

Nice interview by the way............. THREE HOURS A DAY????????? What do they think it is - Ramadan???

Re: UK Taxman Story No 465........
 

Reading between the lines then....with my wife, kids staying in UK in family home.......for this to work for me I need a divorce and sign the property over to my would be ex-wife........hmmmmmm.
:frown::o