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Sam
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Category: Tax
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I have declared my NZ income to HMRC and have paid quite a

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I have declared my NZ income to HMRC and have paid quite a bit of tax on it too - as it put ime into the 40% tax bracket in the UK. The tax I pay in NZ is non-resident tax which is quite low. I figues I may be better off paying resident tax in NZ than adding my NZ income to my existing UK income. To this end I would like to find out whether this is possible (e.g. putting my assets into a NZ trust) and how HMRC would respond to this.
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Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Hi

This would be viewed as tax avoidance to avoid paying tax - however may I ask

When did you arrive in the UK to live and work?

Does this NZ money come into the UK or get spent in the UK

I can then see if there is another solution

Thanks

Sam

Customer: replied 7 months ago.
I arrived in 1994 to live and work. None of my NZ income comes into the UK nor does it get spent in the UK.

Hi

I assume you are declaring the income as you have been here for so many years and to ask for the remittance basis would incur a loss of UK personal allowances and also an annual remittance basic charge which would be greater than the additional tax due but you cannot put this isnot a trust as that would be viewed as tax avoidance

I,m sorry there is no legitimate way to escape this taxation

Thanks

Sam

Sam, Accountant
Category: Tax
Satisfied Customers: 15691
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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