I am lokking to move to Dubai and need to know how the tax free money works and how much you are allowed to transfer back each month to the UK??

Hi Mark and welcome to the forum

You will get more response if you post on the Dubai country forum, which you can locate on the home page.

Regards

Michelle

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A wonderful place to live

Hi Mark,
I am in the process of negotiating a move to Dubai from Ireland and wondered the same (never cross the tax man!). The chances are my move will be reasonably short term (2-3 years) so I will be looking to take / send money home. What I understand from the Irish revenue is that all earnings outside of the country are still taxable at the rates applicable at home, so it is not really tax-free per say.
Have you managed to find out anymore?

Thanks.

I am unsure of your tax legislation, however, I have found out that it is tax free for me!! Apparently I have to fill in a form (P85) or something like that to say I will not be working in the UK! All earnings therefore will not be taxed, and within reason you can send money back home, to cover bills etc..
The moment you come back home and start earning you will be laiable for tax on your new earnings, not what you earned in Dubai.

Thanks Mark, that certainly makes things a lot more attarctive for you.

Good luck.

I have been surprised by what I have been reading here about taxes. It used to be that the US was the only country that taxed income earned while you are resident in another country. It seems a lot of places have decided that would increase their take a lot.

Does the UK still have that tax exile law? The one where you have just come into a lot of money, but if you leave the UK for a whole year without ever coming back, the tax is waived. Just think, inherit a fortune, spend a year on the beaches of South East Asia, and save millions in taxes. I guess it was based on the idea that leaving would be too traumatic, so of course people would rather pay the taxes.

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When you leave the UK, you must apply for your P85 which states you're leaving the country. As I believe it, if the tax office decides you have paid too much tax in that year, you will receive a rebate, but check with your tax office on that. I've known some people to get back £600 - not bad from just filling in the correct forms!!

As for the Americans, I believe the only people exempt from tax when abroad are members of the Armed Forces; it does cause bit of a rub with the British military!! Ouch!!!!