Partial tax years in the UK

[torb]

I'm looking at a possible opportunity in Singapore for 5 months, but finding out how that would affect my UK tax seems like rocket science. I spoke to a company called 'ITS international' who have lots of positive comments on here. They were really helpful and actually made it seem quite simple. Has anyone else worked half a year in and half a year out of the UK and if so, is it as much of a complicated tax nightmare as the calculation guidelienes look?

[stek]

I'm looking at a possible opportunity in Singapore for 5 months, but finding out how that would affect my UK tax seems like rocket science. I spoke to a company called 'ITS international' who have lots of positive comments on here. They were really helpful and actually made it seem quite simple. Has anyone else worked half a year in and half a year out of the UK and if so, is it as much of a complicated tax nightmare as the calculation guidelienes look?

Nightmare since you'd be tax resident in both countries.

Check if there's a double taxation agreement between the two countries, if not it's even harder. Budget for a good taxation specialist is my view.

[torb]

Nightmare since you'd be tax resident in both countries.

Check if there's a double taxation agreement between the two countries, if not it's even harder. Budget for a good taxation specialist is my view.

Interesting. What potential benefits do I get from a specialist? Can I offset any costs and expenses incurred against my world income?

[northernladuk]

Interesting. What potential benefits do I get from a specialist? Can I offset any costs and expenses incurred against my world income?

Erm... He might be able to answer your questions where we can't on a free forum??

[SueEllen]

Interesting. What potential benefits do I get from a specialist? Can I offset any costs and expenses incurred against my world income?

S/he will clarify your position in both countries so neither taxman comes after you. For example tax allowances allowed in one country could be a taxable benefit in another.

Basic info is here.

[BlasterBates]

The usual procedure is split years, this does make it a lot simpler, i.e. the UK will tax you up until the point you left and the new country will tax you from the point you arrive. The new country may take into account earnings in the same tax year but only to calculate marginal rates of tax. The UK won't tax you on earnings after you've left.