Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Full time expats - how do you pay taxes (non-US)?
Author Message
[-]
  •
Rick91 Offline
Lieutenant
*****

Posts: 3,687
Joined: Aug 2012
Reputation: 14
United Kingdom
Post: #1
Full time expats - how do you pay taxes (non-US)?
Just finished my tax return and got chatting to the advisor on the whole paying no taxes if you're out of the country for a certain period of time.

Apparently you pay taxes wherever your a resident regardless. It probably isn't an issue if you earn an insignificant amount of money but I imagine if you built up or come into significant wealth over the years and planned to settle in your home country your going to have issues.

Anyone have any experience on this?
(This post was last modified: 04-20-2016, 10:11 PM by Rick91.)
04-20-2016, 10:10 PM
Find Reply
[-]
  •
Hicks Offline
Lieutenant
*****

Posts: 819
Joined: Oct 2012
Reputation: 6
Peru
Post: #2
RE: Full time expats - how do you pay taxes (non-US)?
It's not something I would recommend doing yourself. Just contact a local accountant who can take care of it for you, in a lot of places there will be ones who specialise in dealing with ex-pats. Also, make sure you register your business in the British Virgin Isles Smile
04-20-2016, 11:10 PM
Find Reply
[-]
  •
nescio Offline
Lieutenant
*****

Posts: 1,196
Joined: Mar 2013
Reputation: 7
Congo Democratic Republic
Post: #3
RE: Full time expats - how do you pay taxes (non-US)?
I don't have to pay taxes to my home country, but I am volunteerly paying my social security, meaning I get a special expat insurance and securing a minimum retirement plan from my government. There are different kind of plans and mine's one of the cheapest formulas. My job refunds it anyway.
04-21-2016, 03:15 AM
Find Reply
[-]
  •
Sexiback Offline
Lieutenant
*****

Posts: 1,375
Joined: Sep 2012
Reputation: 3
Post: #4
RE: Full time expats - how do you pay taxes (non-US)?
http://www.mondaq.com/x/242824/Capital+G...April+2013

Basically if you spend more than 183 days a year from April 6 to April 5th (UK tax year) the following year you are considered domiciled and you will be taxed like any other UK resident, including capital gains tax and inheritance tax.

The other rule is even more dodgy, it's a test whether you have sufficient ties the UK, if they consider you to have them, it doesnt matter how little time you spend in the UK per year. Stuff like spending 91 consecutive days in UK with access to an accomidation (like living in your nans house), working for more than 40 days in UK, if you spend more than 90 days in UK and more in the uk than any other country... didn't 007 say he's in london for 3 months...welcome to the UK, you're now considered domiciled and they're gonna tax you like any UK resident.

I've heard of some bizarre cases where people got hit by inheritance tax because the deceased was member of an UK club and watched the bbc regularly even though their wealth was abroad and they lived abroad. Stuff like leaving a UK address on application forms... applying for rail cards etc.

Also probably not of any concern to any of you, but it is to me... even non domiciled non residents are subject to inheritance tax on assets located in the UK, such as investment, properties etc.

Basically the UK state is low-key backstabbing twat, that will conjure up any reason to tax you. I don't see any way around it if you have any desire to keep earning in the UK.


"When might I become UK domiciled?
Most likely, if:
– Your father was domiciled in the UK when you were born and you have not
subsequently moved to another country, made it your permanent home
and cut ties sufficiently with the UK to transfer your domicile to that other
country"

You basically have to prove to them you live elsewhere entirely, to be undomiciled.

I wonder how these rich russians do it..they don't seem to be paying any taxes.
(This post was last modified: 04-21-2016, 04:51 AM by Sexiback.)
04-21-2016, 04:50 AM
Find Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)