These emails are designed for individuals with interest in United Kingdom taxation. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.
- Under ‘Temporary non-residence’ rules, you may be chargeable to UK Capital Gains Tax on assets you sell whilst overseas and you owned prior to leaving the UK, if you return to the UK within 5 years of departure.
- You will need to inform HMRC of your departure from the UK. Depending on your situation, this can be completed through a P85 or self-assessment tax return.
- When leaving the UK, the date of exit is not necessarily the date of cessation of residence.
- If you rent your UK property when you leave the UK, it is advised that you file a Non-Resident landlords application form with HMRC.
- You may be able to pay voluntary UK Class 2 or 3 National Insurance whilst overseas.
- You may still be entitled to your UK personal allowance whilst resident overseas.
- If you are leaving the UK to work full-time abroad, you can usually visit the UK for up to 90 days – as long as you work for no more than 30 of these days, without becoming UK resident again.
- If certain conditions are met, it is possible to split the tax year into a UK part and overseas part in the year of departure. This is defined as ‘split year treatment’.
- If you complete a UK self-assessment return in your year of departure, you will need to complete the ‘residence’ section (form SA109).
- You cannot use HMRC’s online services to tell them you’re leaving the UK. Instead, you must send your tax return by post, use commercial software or get help from a professional.
This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice.