Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
When you leave the UK be sure to send a from P85 to your tax office. HMRC will then classify you as non resident for the tax year following your date of departure and, furthermore, split the leaving year into teo portions, one resident and the other non resident. Once so classified you can spend up to 90 days in the UK in any one tax year without breaching your non resident status. The form provides for the refund of tax overpaid on departure.
Your net rental income will still be taxable in the UK, but if you are a citizen of an EEA country you retain your personal allowance to offset this. You will have to continue to self assess unless HMRC tell you not to bother in future.
To retain your non resident status, yes.
What rotation will you be on?
Like one month on one month off.
No problem, you will be classified as non resident once you submit the P85, most important. The form is available on the web and can be filed online.
Please be so kind as to rate me before you leave the Just Answer site.
Delighted to have been of assistance.
Thank you for your support.
I thought you were going long term.
Well, if you are only away 6 months then your options are not there and you will be liable for UK Income Tax (IT) on your world wide earnings.
If you have a clear departure date and submit a P85 then the split year procedure will apply. Otherwise enen a very short period of UK residence wil trigger the liability.
Once yuo serve a P85 then you can be in the UK for 90 days in any one tax year without infringing your non resident status. This can be extended in exceptional circumstances, eg illness, bereavement. The 90 days can also be averaged over 4 consecutive tax years.
Correct, you were misinformed. You can leave at any time.
Correct, you can leave any time.
Not quite, HMRC will apply the exemptions, if any, on leaving using the split year method. .
For April - July you would be resident in the UK, thereafter classed as non-resident. The Form P85 provides for a refund of Income Tax (IT) overpaid on departure.
If you are only out of the country for 6 months you will almost certainly not be entitled to non resident status and be liable to Income Tax on your world wide income.
Usually over a year.
Well, I did warn you! In my opinion your absence from the UK will not abate your liability to UK Income Tax.