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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4715
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I was previously living in the uk and self-employed. I

Customer Question

Hi, I was previously living in the uk and self-employed. I then moved overseas with my family for 3.5 years - returning to the UK in October 2016. I worked overseas and was paid in to an offshore bank account. Whilst working overseas I was essentially self employed. I am now doing my tax return with my accountant. Do I need to pay tax on my overseas income which went in to my offshore account? Thanks
Submitted: 10 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 10 months ago.
Thank you for your question...I presume you are refrring to Oct 2014 as your return date to the UK.If you have been treated as non-resident in the UK for tax purposes in the previous two tax years (you say you were away for 3.5 years) you can treat tax year 2014-15 as a split year.Did you complete Form P85 when you left the UK?Any income you earned whilst outside the UK (6 Apr 2014 to date of arrival in the UK) would not be chargeable to UK income tax.More information on split year treatment can be found on page 51 of RDR3 herehttps://www.gov.uk/government/uploads/system/uploads/attachment_data/file/458559/RDR3_govuk_hyperlink__updated_078500.pdf I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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