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Prime Advisors Ltd,
NEW ADDRESS:
Ocean Air house
Suite 200, Floor 1,
750-760 High Road, Leytonstone,
London E11 3AW
Tel - 0044 208 530 6929
Fax - 0044 208 989 1179
E-mail: primeadvisors@yahoo.co.uk

 
   

FOREIGN CITIZEN

If you are the citizen of, or domiciled in, another country - but choose to make your home in the UK - there is a particular feature of the UK tax system that works to your advantage.

You may only be taxed on your earnings in the UK. Earnings from investments, businesses, employment outside of the UK can be exempt from UK tax - (unless you remit the proceeds to the UK).

There is a further advantage. If you are in the UK for less than 183 days in a tax year (April 6th to April 5th) then you can reclaim tax paid while you were in the UK. This is of particular benefit to Commonwealth citizens, Canadians, Australians, New Zealanders and South Africans who visit the UK on a working holiday.

However - be warned - reclaiming tax due to you is a lengthy process and frequently takes 9 to 12 months.

Overall - as you probably won't pay tax in your home country while you are in the UK, this offers tremendous tax saving benefits to virtually all non-UK citizens who choose to work in the UK.

However citizens of the USA do not benefit quite as much because the US Government (almost uniquely, only Libya!! operates a similar system) chooses to tax its citizens on their world-wide income - which closes this particular tax saving tip for them. The good news however for US Citizens is that tax paid in the UK can usually be used as a credit against tax due in the USA.

 

 

   
 

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