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We've been through this before and it's not as easy as you say. And when it comes to your only source of income and potential legal issues no it isn't.
You should have 2-3 contracts running concurrently if you are remote, easy to multitask between them, meetings at different times etc. Obv if they find out you might lose one of them but should be raking it in on 3 x daily rate to cover it.
You should have 2-3 contracts running concurrently if you are remote, easy to multitask between them, meetings at different times etc. Obv if they find out you might lose one of them but should be raking it in on 3 x daily rate to cover it.
So anyway, back to reality. Were were we up to on the nomad visa topic.
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You will be able to swap your U.K drivers licence for a Spanish one without taking a test.
In terms of the Spanish Nomad Visa, the current rumour seems to indicate that it will go live for applications on 23rd March but will have a look again in April.
I've just read through this thread hoping to find out nitty gritty of how this works, but seems to gone off on a bit of a tangent.
Like many trying to look at ways to reduce this obscene 50% levels of taxation that we are now facing. Yes, we can stick it in a SIPP, but want to enjoy the money earnt on the here and now with family and kids whilst they are still growing up, not when I'm knackered and have no energy or zest for life or even live to enjoy it.
ok, so how does this work for someone working inside ir35 through an umbrella. What is the process:
1. Butter up the end client to allow you to work from overseas - assuming they give the green light
2. Fill in P85
3. Move abroad
4. Tell Umbrella you are now living abroad and no tax should be taken off your pay? - Umbrella maybe reluctant to pay into overseas bank account - can you still have it paid to UK bank account and then transferred abroad?
I realise above is quite simplistic and will brace myself for it to be ripped to shreds - but any info on what the process is would be greatly appreciated.
Was just thinking I could save years of working - if I worked abroad for 2 years - I would've have had to work 4 yrs in the UK to earn the same - so saved myself 2yrs free!
I've just read through this thread hoping to find out nitty gritty of how this works, but seems to gone off on a bit of a tangent.
Like many trying to look at ways to reduce this obscene 50% levels of taxation that we are now facing. Yes, we can stick it in a SIPP, but want to enjoy the money earnt on the here and now with family and kids whilst they are still growing up, not when I'm knackered and have no energy or zest for life or even live to enjoy it.
ok, so how does this work for someone working inside ir35 through an umbrella. What is the process:
1. Butter up the end client to allow you to work from overseas - assuming they give the green light
2. Fill in P85
3. Move abroad
4. Tell Umbrella you are now living abroad and no tax should be taken off your pay? - Umbrella maybe reluctant to pay into overseas bank account - can you still have it paid to UK bank account and then transferred abroad?
I realise above is quite simplistic and will brace myself for it to be ripped to shreds - but any info on what the process is would be greatly appreciated.
Was just thinking I could save years of working - if I worked abroad for 2 years - I would've have had to work 4 yrs in the UK to earn the same - so saved myself 2yrs free!
The main benefit comes from lower cost of living, lower rents and better lifestyle: sun and a new culture.
The lower tax rate is a bonus.
I would just pull the trigger and go for it. If it does not work out at least you have an experience to learn from and an extended holiday.
if done right it cannot cost you more than the annual holiday budget for an average holiday plus some premium.
ps: client are always difficult to negotiate with, but if you are in the situation that the decision is already taken… you know and they know that it’s only one way it will work.
if they refuse then you’ll find a new client and that is. Adapt overcome.
otherwise the pain threshold would be too high to be able to negotiate properly or have the energy to find a decent client that would be happy with that situation.
And you will be stuck on indecision for a long time.
Sometimes bad decision is better than indecision although in this case it is not actually the case. But you won’t be able to see it from where you are standing now.
There's no way it's going to work through a UK umbrella. To be viable, it would almost certainly need to be a B2B contract directly with the end client. Also, even if you could get the stars to align with a UK umbrella (highly unlikely) and the umbrella applies an NT tax code (i.e., no PAYE), you're still going to be paying both sets of NI on top of whatever overseas tax you may need to pay.
There's no way it's going to work through a UK umbrella. To be viable, it would almost certainly need to be a B2B contract directly with the end client. Also, even if you could get the stars to align with a UK umbrella (highly unlikely) and the umbrella applies an NT tax code (i.e., no PAYE), you're still going to be paying both sets of NI on top of whatever overseas tax you may need to pay.
Even if you get taxed entirely in the uk you are still better off in Spain due to the lower cost of life living.
if you do manage to find a client that allows you outside ir35 and you get the digital visa etc. that is a bonus.
I would still do it for the legal 3 months as a tourist. Then decide what path you would like your life to take.
if you are working in London, earning 100k and all goes on rent and bills, it’s all the same. You are poor and stuck in a rotten situation. Even 60k gross in UK will take you a lot further in Spain and you have a new environment to experience.
This is only one example but I was surprised that Davidoff Gold go for €5.5 in Spain while in UK I pay for Marlboro Gold at least £13.
indeed it is a singular case and smoking is bad but if we get so robbed in this case, there are probably many other cases equally outrageous.
You cannot legally work in Spain - even if the client is not in Spain - without a valid visa.
That is correct. But you can still work from there and nobody will know. Only your client security team that would see you log-in with foreign ip.
Also not many clients will allow you to work from abroad. They say that data protection and local law etc. (which is true) but also governments give companies free money to keep people employed so they can prop up the local economy.
That's why I said above that there might be many impediments and just make the move and deal with the fallbacks later.
In the past there were people that moved across continents, without knowing the language, without a penny in their pocket. They took risks. (Italians to America)
And now people fear upsetting the HR department for wanting to experience life more and not be stuck in the wage cage with poor food and bad weather.
I still like the UK but winters get me really depressed. (It could be that all my genetic line was used to having plenty of sun, work in fields and now I live in a larger box in London)
When you'll be on your deathbed, you won't regret being more compliant and taking less risks and maybe putting more on your pension. You'll regret not taking more risks.
"They say that true hell is when the person that you are meets the person that you could have been..."
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