Sending money from Dubai to UK

Rob_London · #1 (**permalink**) 30th November 2008, 06:41 PM

Hi,

I am just about to accept a job in Dubai and after much investigatory work (mainly on this site) am now comfortable that the package itself is adequate for a good way of life. However, I have significant financial commitments in the UK that will need to be paid from my salary in Dubai and am concerned one of the major benefits of moving over there (no tax) will be jeorpordised by her majesty's revenue department when i send funds home.

Can anyone give me some advice on this? e.g what the thresholds are; what the most tax efficient transfer methods are; etc.

Thanks!

sayfur79 · #2 (**permalink**) 30th November 2008, 07:01 PM

I'm about to do that aswell. I also have a mortgage in UK which I intend on paying back from my Dubai salary. Are there any rules on sending money to UK other than the commission you pay....

Also if you don't mind, whats the package? I've been offered 30k/month (transport/accommodation included) + 10% bonus + medical+schooling (got no kids though..).

Rob_London · #3 (**permalink**) 30th November 2008, 09:39 PM

mine's approx. 500k pa, but no accommodation or travel thrown in, so net net fairly similar i imagine (unless you're being kept in the Burj, or whatever it's called, of course!).

sayfur79 · #4 (**permalink**) 30th November 2008, 09:56 PM

i meant 30k/month includes travel + accom (i.e don't get travel or accom allowance). I'm beginning to think I've been offered lower than I should be getting because I initially told them 30k seems OK (finger in the air figure I had in the initial interview). Out of interest, what field are you working in and how much experience do you have. I'm working as a business analyst in telco.

Rob_London · #5 (**permalink**) 30th November 2008, 10:05 PM

I'm working in banking, approximately 10 years experience; in middle management.

The package is made up of various relocation related bonus' so not out and out salary.

I have been told that 10k per month surplus cash will make for a nice life.

Elphaba · #6 (**permalink**) 1st December 2008, 05:15 AM

Without specific details I cannot give advice on your individual cases, but would point out that you do not lose liability to UK tax simply by moving abroad. If you move now for example, you could still be liable for UK income tax for the remainder of this tax year. You have to consider the date you move, how long you will be away and whether you have completed the right paperwork.

I have covered these issues in number of other threads, so you may like to do search. (Note also, that I advise on these issues professionally.)

For moving small amounts (by which I mean below GBP 10K) you might as well do online transfers from your UAE to UK bank account, or try Western Union.

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Rob_London · #7 (**permalink**) 3rd December 2008, 03:07 PM

Elphaba, many thanks for your assistance.

To elaborate a little futher, I will be in Dubai for at least 14 months, beginning in February 2009.

The maximum transfers amounts are going to be closer to GBP 1k rather than 10k, though I will also be renting my London based property for approximately £1500 per month, which may or may not also effect my tax position.

Obviously this is becomming quite specific to me now so it may be worth discussing offline. You're a qualified tax advisor/accountant I take it? Do you have a business email address I can contact you on?

Many thanks,

Rob

Elphaba · #8 (**permalink**) 4th December 2008, 05:43 AM

Quote:

Originally Posted by Rob_London

Elphaba, many thanks for your assistance.

To elaborate a little futher, I will be in Dubai for at least 14 months, beginning in February 2009.

The maximum transfers amounts are going to be closer to GBP 1k rather than 10k, though I will also be renting my London based property for approximately £1500 per month, which may or may not also effect my tax position.

Obviously this is becomming quite specific to me now so it may be worth discussing offline. You're a qualified tax advisor/accountant I take it? Do you have a business email address I can contact you on?

Many thanks,

Rob

If you make one more post, your PM facility will be activated and I will send you my details.

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Rob_London · #9 (**permalink**) 4th December 2008, 10:05 AM

As discussed...

crazymazy1980 · #10 (**permalink**) 18th December 2008, 06:07 AM

Quote:

Originally Posted by Rob_London

Hi,

I am just about to accept a job in Dubai and after much investigatory work (mainly on this site) am now comfortable that the package itself is adequate for a good way of life. However, I have significant financial commitments in the UK that will need to be paid from my salary in Dubai and am concerned one of the major benefits of moving over there (no tax) will be jeorpordised by her majesty's revenue department when i send funds home.

Can anyone give me some advice on this? e.g what the thresholds are; what the most tax efficient transfer methods are; etc.

Thanks!

I rang HMRC whilst I was back in the UK (Dec 08) and the advice right from the horses mouth was this:

As long as I am non-resident for the year I leave and remain so at least until after the April after I left (so say left in Sept '08 need to be non-resident until April '10) I can tranfer as much money as I want back to the UK without it being subject to tax - ONCE you have filled in your P85 and it is registered with HMRC - best to ring them to check this as well.

I can return to the UK as long as I do not stay a total of 91 days or more in any tax year else I will be again liable for UK tax for that whole years earnings.

So if my understanding is right, plan to return between February and April and transfer any lump sums you intend to remit before the start of the tax year you intend to return.

Is this a correct assessment?