reply to post from prioritypress

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Basically, what I'm thinking about doing in a year or 2...

Is:

Work abroad, for my clients in the UK...MINIMISING my tax liabilties here. Be in the UK for less than 183...But still physically doing some work here...Although I read somewhere that if you stay or work for any period of upto 90 days you have to pay tax???

Live and work in Thailand (with WP) for less than 180 days, therefore MINIMISING my tax liabilties there.

Any ideas how I would do this? All money is currently paid into a UK Bank Account by bacs...I suppose it could be possible to change this into an account based in Thailand.


Nick

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nick

if only some of ur work is carried out in the uk and the rest in thailand, then section 5 of form ir20 has a table which shows the position depending on various combinations of whether u are resident, ordinarily resident or domciled in the uk. for non-residents, earnings from work done in the uk are normally liable to uk income tax.

http://www.hmrc.gov.uk/pdfs/ir20.htm

to minimise ur tax liabilities by being able to choose when to remit money after emigration, it will do no harm to consider having ur earnings paid into a current account outside both the uk and thailand. u’ll have to set this up before u emigrate, otherwise the anti-money laundering rules will make it almost impossible for u to open the account. an example is an account with the jersey subsidiary company of a uk bank (no particular recommendation of any bank is implied).

http://www.bankofscotland-international.com/Banking/Fle...-Current-Account.asp

ian.

You can easily open a swiss account as a uk resident and as there are still decent banking confidentiality laws for the present its a fairly safe bet.

I just opened a french account based on our pending move to france again no major hassle but French accounts are as open as an open air cinema to the french authorities and by definition the other EU countries.

Anti money laundering rules would have little bearing on opening a swiss account as a non resident but being resident in an eu country triggers withholding taxes on certain account types. One really cool feature is that taxes on share dealing profits etc and stamp duty are none existent unless one is a complete idiot so you can have fun day trading for a few extra peso's

ash

Cheers guys


Nick