Money matters?

kungfu_mattyb

Your lucky and get that dream job outside the UK, or a shit job that pays great!! lets say £300 p/day. (I wish). Whats the best way to keep hold of that money?

I would like to be able to bring it home in a big bag (happydays). But i'm sure the Tax man would have a bit to say about that.

Any ideas?

matty out.

andynorris

off shore banking dear chap..!!! if you are out of the country for more than 180 days, you are tax exempt anyway.

chooooooooo,

andy.

moomin

Hi

I was once told the A B C of banking and it seems to be working for most people in the job.

Work in country A
Bank in Country B
Live in country C

and you'll pay no tax.

Cbev

Matty,
You need to be classed as non res to be tax excempt which means doing an full tax year apr to apr out the country how ever you are allowed 90 days in the UK, travel days do not count as been out of the country as from this year.
If you find yourself back in the Uk on a course relevant to your job, compassionate/ medical reasons then this doesnt count as days in country however you will need to document this.
A lot of the offshore bank accounts are now opening up to HMRC scrutiny so unless your bank is in Switzerland its pointless having an offshore account.
I have been working HE for over 3 years now and submit my tax returns via an accountant and if anything I get a rebate from the tax man for tax deducted at source on savings /shares etc.
Hope this helps

mgibson55

Great advice guys, thanks. I too had been interested in this.

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