Overseas Bank Account.

[pierretopping]

My question was based on a friend of mine that owns property in Spain that she rents out. It was bought by cash earned (and paid tax on ..) in the UK.

Now, the retail income from this property will be placed in her HSBC off-shore account. It will not be spent in the UK, as she plans to buy more property in Spain, and then eventually move out to Spain to live in a few years.

My point does Gordon think he can take TAX on this money, or I’m I missing something ?

[rootsnall]

My question was based on a friend of mine that owns property in Spain that she rents out. It was bought by cash earned (and paid tax on ..) in the UK.

Now, the retail income from this property will be placed in her HSBC off-shore account. It will not be spent in the UK, as she plans to buy more property in Spain, and then eventually move out to Spain to live in a few years.

My point does Gordon think he can take TAX on this money, or I’m I missing something ?

If she's UK tax resident then the income should go on her UK tax return.

[bobhope]

The problem is the threshold for triggering suspicions is really low too - 5 or 10k.

suitcase full of money is the only way I guess.

[Euro-commuter]

I don't know how they do it in the UK, but in France the taxman, having found out that you have a foreign bank account, would just ask you for copies of your statements on that account. You were of course under no obligation to show them.

After you declined, you would receive an estimated tax bill on an estimated balance of hundreds of thousands of euros in the foreign account. Of course you could contest the estimate: by showing copies of your statements.....

[bobhope]

I've tried to tell the IR that I'm not resident. How many P85s do they need before they get the hint?

[threaded]

I've tried to tell the IR that I'm not resident. How many P85s do they need before they get the hint?

It feels like they never do...

[Rantor]

I don't know how they do it in the UK, but in France the taxman, having found out that you have a foreign bank account, would just ask you for copies of your statements on that account. You were of course under no obligation to show them.

After you declined, you would receive an estimated tax bill on an estimated balance of hundreds of thousands of euros in the foreign account. Of course you could contest the estimate: by showing copies of your statements.....

Interesting.

Hypothetically speaking, what do you think would happen if you just left the country at that point?

I often wonder if european governments pursue (civil?) tax liabilities cross-border.

Not that I would ever consider such a course of action.

[darmstadt]

I often wonder if european governments pursue (civil?) tax liabilities cross-border.

I know the Germans do! A friend left Germany without paying a few tax bills and came back on holiday some time later. He got stopped at the border and thrown in jail for non-payment. His tax bill was DM3,000 and his prison bill was DM100 per day so he got 30 days inside. Another, well meaning, friend went along and bailed him out which really pissed him off as not only was he paying off his tax bill he was in a nice cell with television, 3 meals a day and a liter of beer a day.

[andy]

I know the Germans do! A friend left Germany without paying a few tax bills and came back on holiday some time later. He got stopped at the border and thrown in jail for non-payment. His tax bill was DM3,000 and his prison bill was DM100 per day so he got 30 days inside. Another, well meaning, friend went along and bailed him out which really pissed him off as not only was he paying off his tax bill he was in a nice cell with television, 3 meals a day and a liter of beer a day.

Is their any website for comparing EU jails
once can dodge the tax in the country with best jail service

[Rantor]

I know the Germans do! A friend left Germany without paying a few tax bills and came back on holiday some time later. He got stopped at the border and thrown in jail for non-payment. His tax bill was DM3,000 and his prison bill was DM100 per day so he got 30 days inside. Another, well meaning, friend went along and bailed him out which really pissed him off as not only was he paying off his tax bill he was in a nice cell with television, 3 meals a day and a liter of beer a day.

Ok, so its defo not ot a civil offence in germany and they sound as if they've moved on a bit from colditz