Palatkik Posted June 22, 2007 Report Share Posted June 22, 2007 Apparently tonight is end of the amnesty! http://news.bbc.co.uk/nolpda/ukfs_news/hi/newsid_6227000/6227812.stm? Link to comment Share on other sites More sharing options...
junglesoup Posted June 22, 2007 Report Share Posted June 22, 2007 what does this actually mean? What if you stay outside of the Uk for a year and make money through the internet in Thailand for example...what is the tax laws regarding this set up. I heard if you werent living in the UK for more than a year then you dont pay tax... Link to comment Share on other sites More sharing options...
Mekong Posted June 22, 2007 Report Share Posted June 22, 2007 I am not sure of the current legislation, but when I left the UK in 1988 you had to contact your local tax office and fill in a form declaring yourself "Non-UK Resident" to claim tax free status. Since I don't own any property in the UK I am still getting tax free in the Isle of Man but a friend of mine who does own property is now banking in the Caymens. Link to comment Share on other sites More sharing options...
The_Munchmaster Posted June 23, 2007 Report Share Posted June 23, 2007 I am not sure of the current legislation, but when I left the UK in 1988 you had to contact your local tax office and fill in a form declaring yourself "Non-UK Resident" to claim tax free status..... I left in 88 as well but never contacted my local tax office! Link to comment Share on other sites More sharing options...
kman Posted June 23, 2007 Report Share Posted June 23, 2007 what does this actually mean? What if you stay outside of the Uk for a year and make money through the internet in Thailand for example...what is the tax laws regarding this set up. I heard if you werent living in the UK for more than a year then you dont pay tax... To the best of knowledge, although I could be wrong, this legislation is actually referring to tax on interest from investments, and the people they are after are "Residents" as Offshore banks do not deduct tax at source. As far as not paying UK tax on earnings while working abroad I don't think the law has changed. The theory being that once you declare Non Residency you are liable to pay local tax, and not UK tax. Well, that was how it was when I left the UK.. 12 months before Munchie and Mekong Cheers K. Link to comment Share on other sites More sharing options...
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