Aboard contract - bank account advise?

[radish2008]

So not business.

If I was to work in the ME, with the intention of paying no tax, and found I could do that, why would I voluntarily run it through a business that would attract 19% CT?

You cannot use a personal bank account for business purposes - that would include receiving cash that should otherwise go into a business account. I think Sue has closed the thread with her answer though.

[Sue B]

I am planning to take the middle east aboard IT contract for one year. And they will pay in dollar's with no taxation.
For receiving the payments, If i give my existing UK personal Barclays current bank account, does i need to pay the tax in UK? or should i open for new international bank current account to avoid the tax problem?
Also should i declare this overseas paid amount in the self assessment? Any other rules applicable for uk citizen working in aboard i.e taxes, aboard stay? please advise

Regardless of where you have your monies paid to, or where your bank account is, it doesn't change your tax residency status. If you remain resident in the UK for tax purposes then you are obliged to declare all foreign income on your self assessment.

If you want to become non resident in the UK for tax purposes then speak to an expert as it is a complex matter. In the meantime the basics for you to consider are:-

1) Inform HMRC
2) Be out of the UK for one complete UK tax year (so your next complete tax year is 2018/2019)
3) Be employed full time overseas (so shift patterns / rotations wont count)
4) Do not return to the UK for any more than 90 days average during your period of non residency

Bear in mind points 2-4 are only confirmed 'after the event'.

HTH

[Lance]

He said I'm working and want to be paid by my client into my UK personal account ?

So not business.

If I was to work in the ME, with the intention of paying no tax, and found I could do that, why would I voluntarily run it through a business that would attract 19% CT?

[radish2008]

who said it was for business? How does employment law in the Middle East work? I don't know.

It's work in the Middle East. The account's no good for US dollars though.

He said I'm working and want to be paid by my client into my UK personal account ?

[Lance]

The Middle East being one country....

and where did I imply it is one country?

You may have inferred it. Or inferred it was what I meant.

[SueEllen]

who said it was for business? How does employment law in the Middle East work? I don't know.

It's work in the Middle East. The account's no good for US dollars though.

The Middle East being one country....

[Lance]

I don't think this is right - you cannot use a personal account for business purposes.

who said it was for business? How does employment law in the Middle East work? I don't know.

It's work in the Middle East. The account's no good for US dollars though.

[radish2008]

OP used the word advise correctly though

As far as I'm aware a UK bank account isn't an issue except they won't take US dollars in a UK current account. Ask your bank manager.

You will have to stay out of the country for most of the year, and depending on the country you're in you'll either need to pay tax, or get some good insurance (travel insurance won't cut it).
There are load of forums that specialise in this. Try some of the oil and gas worker forums.

I don't think this is right - you cannot use a personal account for business purposes.

[Lance]

Ignoring the poor grammar and use of english, defo one for your accountant to make sure you get it right.

OP used the word advise correctly though

As far as I'm aware a UK bank account isn't an issue except they won't take US dollars in a UK current account. Ask your bank manager.

You will have to stay out of the country for most of the year, and depending on the country you're in you'll either need to pay tax, or get some good insurance (travel insurance won't cut it).
There are load of forums that specialise in this. Try some of the oil and gas worker forums.

[kaiser78]

Ignoring the poor grammar and use of english, defo one for your accountant to make sure you get it right.

[everfor]

I am planning to take the middle east aboard IT contract for one year. And they will pay in dollar's with no taxation.
For receiving the payments, If i give my existing UK personal Barclays current bank account, does i need to pay the tax in UK? or should i open for new international bank current account to avoid the tax problem?
Also should i declare this overseas paid amount in the self assessment? Any other rules applicable for uk citizen working in aboard i.e taxes, aboard stay? please advise