Moving Back to the UK - Tax advice please !

[dixiedez]

Hi, I have lived in Dubai now for 18 months, and am moving back to the UK in 2 months. I have obviously earned a tax free salary, and have now some savings that I am wanting to bring back to the UK with me. Am i required to pay tax on my earning and/or the savings?

Thanks everyone

[Elphaba]

Apologies for the delay in responding. I have not been able to be on board for a while.

You will have tax liabilities for for the partial years. Anything earned in the full tax year 6th April 2008 to 5th April 2009 will be tax-free , including any monies saved from that year that you take back in. Monies in the partial years out either side will be subject to UK tax as you will be deemed as UK resident for tax purpose if you have spent more than 90 days in the UK in a tax year.

-

[dixiedez]

[QUOTE=Elphaba;196983]Apologies for the delay in responding. I have not been able to be on board for a while.

You will have tax liabilities for for the partial years. Anything earned in the full tax year 6th April 2008 to 5th April 2009 will be tax-free , including any monies saved from that year that you take back in. Monies in the partial years out either side will be subject to UK tax as you will be deemed as UK resident for tax purpose if you have spent more than 90 days in the UK in a tax year.

Hi,

Thanks for your reply. So just to confirm, I moved to Dubai in Aug 008, so for tax year 08/09, I am free of UK tax. For monies earnt since 6th April 09 to 5th April 10 are fully liable to UK tax for the whole tax year at standard rates, unless I come back to the UK less than 90 days before the tax year end (Apr 5th 2010)?

Is that correct?

Thanks again

[Elphaba]

[quote=dixiedez;198576]

Originally Posted by Elphaba

Apologies for the delay in responding. I have not been able to be on board for a while.

You will have tax liabilities for for the partial years. Anything earned in the full tax year 6th April 2008 to 5th April 2009 will be tax-free , including any monies saved from that year that you take back in. Monies in the partial years out either side will be subject to UK tax as you will be deemed as UK resident for tax purpose if you have spent more than 90 days in the UK in a tax year.

Hi,

Thanks for your reply. So just to confirm, I moved to Dubai in Aug 008, so for tax year 08/09, I am free of UK tax. For monies earnt since 6th April 09 to 5th April 10 are fully liable to UK tax for the whole tax year at standard rates, unless I come back to the UK less than 90 days before the tax year end (Apr 5th 2010)?

Is that correct?

Thanks again

Exactly

-

[agua642]

Hi, A friend is looking to return to Uk after 29 yrs, he is non Resident in Uk, Is he able to take back a large amount of cash? and can he bank it in his non resident account in Uk and not have to pay Tax on it. What if he then decides to become a uk resident again will he then be liable for tax on the money he brough in from Spain?
Any advice appreciated

[Elphaba]

Originally Posted by anita coughlan

Hi, A friend is looking to return to Uk after 29 yrs, he is non Resident in Uk, Is he able to take back a large amount of cash? and can he bank it in his non resident account in Uk and not have to pay Tax on it. What if he then decides to become a uk resident again will he then be liable for tax on the money he brough in from Spain?
Any advice appreciated

If he is permanently non-resident for that length of time he should have no Capital Gains tax liability on repatriating monies to the UK prior to his return.


FYI - I advise on these matters professionally.

-