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Relocation Package

Relocation Package

Old Sep 10th 2014, 2:51 pm
  #1  
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Default Relocation Package

Can anyone confirm if a relocation package is taxable in the UK? I've read you can get up to £8k without incurring tax. Can anyone confirm either way?

Thanks
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Old Sep 10th 2014, 3:07 pm
  #2  
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Default Re: Relocation Package

Where are you relocating to and who is stumping the money?
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Old Sep 10th 2014, 3:28 pm
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Default Re: Relocation Package

Mine was taxed in the US... would be interested if I could claim that tax back!
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Old Sep 10th 2014, 11:04 pm
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Default Re: Relocation Package

Mine was taxed here in CA and the company grossed it up.
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Old Sep 11th 2014, 10:33 am
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Default Re: Relocation Package

My company is both in the US an UK. So technically I could get it from either side. I'm moving to Georgia
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Old Sep 11th 2014, 4:24 pm
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Default Re: Relocation Package

Given the dual taxation i don't think it particularly matters where the tax is paid provided you do both tax returns correctly.
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Old Sep 11th 2014, 4:54 pm
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Default Re: Relocation Package

Although don't forget to claim your tax back on leaving the uk!
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Old Sep 11th 2014, 5:00 pm
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Default Re: Relocation Package

Originally Posted by mrlion View Post
Mine was taxed here in CA and the company grossed it up.
Originally Posted by unique_boy View Post
Mine was taxed in the US... would be interested if I could claim that tax back!

Don't forget to claim that tax back on your US tax return. I claimed the tax back on moving expenses from Blighty, and later from TX to CA and then from CA back to TX.

Tax Topics - Topic 455 Moving Expenses
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Old Sep 14th 2014, 12:21 am
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Default Re: Relocation Package

My relocation package will be taxed in the USA and not UK. It is a payment made once I've transferred. I can claim all the US moving deductibles from that sum. I have to stump up the cash to actually move in advance though. If I had cash flow problems, it would probably be more efficient for the company to employ a moving agent and pay them. Again, that would be US taxable (plus agent fee).
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