How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 5073
Type Your Tax Question Here...
bigduckontax is online now

I have been offered a Job in the Uk, i also have a rental

This answer was rated:

I have been offered a Job in the Uk, i also have a rental porfolio and would like to know how much tax and national insurance i will pay overall if i take the job and move to the UK. can you give me a schedule with your workings?
Customer: replied 3 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 3 months ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

If you spend more than 183 days in the UK in any one tax year [6 April to the following 5 April] you will be liable to UK taxation on your worldwide income. That will be Income Tax (IT) and National Insurance (NI). NI deductions do not apply to rental portfolio income. Without a guide as to your likely income, I cannot assess your taxation position.

I would like to talk to you, but I am responding to your question from a time zone 7 hours ahead of GMT thus making telephonic communication both impractical and expensive.

Are you a citizen of an EEA country?

Customer: replied 3 months ago.
The salary offered is 100,000 sterling with 150,000 bonus annually. There will be a car allowance of approx 5000 pounds to be confirmed by them. There will be accommodation provided for 12 months. I have a property investment company based in the iom which has uk property Turnover 67,338 less 60737 expenses 6600 profit. A property in jersey turnover 14850 less 11394 expenses 3456 profit. A few properties in the iom Turnover 45553 less 40724 expenses 4828 profit.

As your annual income will exceed 100K you will not be entitled to a Personal Allowance (PA). The IOM is a tax haven as indeed is Jersey, but as you are not resident there the income received will still be subject to UK taxation.

Your income is of the order of 255K + 6.6K + 3.456Kzk + 4.828 = say 267K. This will be taxed as follows; 34.5K @ 20% [6.9K], 115.5K @40% [46.2K] and 82.5 @ 45% [37.1K], total tax say a tad under 90K.of IT. Ni contributions will be say 9.3K + 4.2K = say 13.5K. This answer assumes that you propose to reside in England. In Scotland, the situation would be slightly different.

I do hope that you have found my reply of assistance.

Customer: replied 3 months ago.
Hello big duck
And the car allowance and house how will that work out.
Customer: replied 3 months ago.
Big duck if i already pay tax at 20% on the rental income in the iom and jersey will this come off my UK tax and how will that work ? at what rate .

The car allowance I have included. You would be far better off buying your own car and charging the employer 45p per mile (20p after 10000 miles) which is not taxable. I have ignored the house, this benefit in kind would be taxed at 45%..

The UK has Double Taxation Treaties with both the UK and the IoM. Any tax deducted in these jurisdictions is allowed as a tax credit against your UK liability on the same income stream.

Customer: replied 3 months ago.
Sorry , where is the car allowance included and can you explain the 9300 & 4200 for national insurance
Customer: replied 3 months ago.
can i pay the amount to just answer with a south african card ? i registered with a UK card

I included 5K for the car in my computation. The NI deductions are at 12% up to 46.350 quid and 2% thereafter.

I cannot tell you if you can pay with a SA card. I am not involved with Just Answer Administration. My immediate reaction would be to try it!

Customer: replied 3 months ago.
Big duck there is a few things confussing for me, is it possible to put this on a spreadsheet and send it to me clearly stating each amount and the tax brackets etc.

Unfortunately, this is outside the scope of the Just Answer format.

Your income, less the house, is 267000 GBP. Of this 34500 is taxed at 20%, 115000 at 40% and 82500 at 45%. Tax deductions total just under 90K.

bigduckontax and other Tax Specialists are ready to help you

Thank you for your support.