Some taxing questions!

[SimonC]

Update on the move - I spoke with prospective employer last night after e mailing him my concerns about accomodation costs. I asked either for an increase or for comensurate accomodation to be provided. He is coming back to me!

On another note.

As I intend to come out first, what is the position regarding remitting funds back to the UK to cover day to day expenditure while I am away i.e. mortgage, school fees etc? If I remit am I liable to UK tax? If so presume I am better off leaving a lump some in account before I go to cover costs?

Also, if I came out say in August can I re enter the UK for upto 90 days or am I deemed to have already been there for the 90 days as I would have left a while after start of tax year?

What are mortgage rates/availablity of them/critieria etc for expats?

Many Thanks

[McBook]

Hi Simon

The funds you send home won't be taxed but there are significant charges associated with making regular international transfers. I think HSBC offer some kind of expat account that can be linked to an HSBC account back home and offers reduced transfer rates. I've not got one bcos i'll be working for Standard Chartered and I get a good deal with them. I reckon you're right about leaving a lump sum in a UK account - prob the easiest way forward.

Basically, you'll have already have used your 90, i'm afraid. Check out the thread "90 day UK limit rule" for more on this.

All the banks do mortgages but someone recommended "Tamweel" to me - check out their website.

[Elphaba]

Whether you are taxed on income sent to the UK depends on your tax status. Assuming you become non-resident and remain so (in a tax-free country) for four years you will have no liability. Don't forget to complete HMRC form P85 before you leave to request non-resident status for tax purposes.

I would advise you to leave monies to cover costs as you will be charged everytime you send money from the UAE to the UK.

In respect of mortgages, the market here is very different to the UK. Each lender has a list of approved developers so you may not have a free choice. Interest rates are around the 7.5-8% mark and you will usually require at least a 10% deposit. Salary multiples are up to 5 times salary, less other liabilities. Let me know if this is something you wish to pursue, but I'd strongly advise living here for a while before committing yourself.