swan
Senior Member
Posts: 209
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Post by swan on Jul 8, 2015 13:24:17 GMT
The budget today states (BBC news reporting) that "He announced reforms to the "no dom" tax status, saying "anyone resident in the UK for more than 15 of the past 20 years will now pay full British taxes on all worldwide income and gains" from April 2017."
My husband is out in KSA. We are about to follow. Is all salary going to be taxed in 2 yrs time??
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Post by Welshman on Jul 8, 2015 15:29:31 GMT
Hi Swan,
No need to panic. Non Doms are people who live in the UK but pay no or little tax as they claim they are domiciled in another country. You will still be domiciled in the UK but not actually a resident. As long as you spend less than 91 days per tax year out of the UK there will no tax on your income earned outside of the UK. Any interest you accrue in the UK e.g property rent, interest payments etc will be classed as taxable income but you will receive your full UK tax allowance even though you are non resident so that should cover most things in the UK
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Post by Welshman on Jul 8, 2015 15:32:18 GMT
Sorry should read no more than 91 days per tax year IN the UK
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swan
Senior Member
Posts: 209
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Post by swan on Jul 8, 2015 15:38:27 GMT
Thanks, Welshman.
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