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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Madam, We left the UK to live in Israel December 1992, we

Resolved Question:

Dear Sir/Madam,
We left the UK to live in Israel December 1992, we plan to return to the UK next year, we need to know if we owe any tax from 1992.
The proceeds of the sale of our property plus our savings will be in the region of 340,000.00 gbp, we plan to spend 220,000.00 on a property and live off the balance plus our UK and Israeli state pensions. We ran a self employed business in Israel and we have paid tax annually. We will have no tax liability in Israel. Will we have to pay tax in the Uk.
Thank You.
Ronald & Juliette Jackson.
Submitted: 8 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 8 months ago.

Thank you for your question..

As you have been non resident in the UK for UK tax purposes since Dec 1992, the only income that chargeable to UK income tax during your stay overseas would be interest or rental income aring in the UK.

You have not mentioned if you received any of the above.

Once you return to the UK and become UK resident, then you would be taxed on your worldwide income arising in the tax year. UK State pension is taxable income although it is received gross.

Remitting your capital from an overseas bank into a UK bank would be out of scope of taxation. The same would apply to any gain from sale of property in Israel.

More information on taxation of foreign income is covered here

https://www.gov.uk/tax-foreign-income/paying-tax

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.

Customer: replied 8 months ago.
I need to know if I have any outstanding tax from 1992, my N.I. number is ***** 622383 C
Thank You
Expert:  taxadvisor.uk replied 8 months ago.

Thank you for your reply..

Only HMRC can tell you if there is any outstanding tax from 1992.

We are not connected to HMRC..

From experience, even if there was any tax outstanding, over this time HMRC would have written it off as you have been outside the UK since 1992. If you have not received any communication from HMRC you can safely assume your account with them is clear.

I hope this is helpful.

taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4883
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Expert:  taxadvisor.uk replied 8 months ago.

I thank you for accepting my answer.

Best wishes

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