It is currently Wed 15 Aug 2018 22:06 GMT
Change font size

    Latest Message from British Expat:

  • Five questions about Ukraine – Quick Quiz
    It's the largest country by land area that lies entirely within Europe. And the first line of its national anthem says, reassuringly, that it's not dead yet. But what else do you know about Ukraine?

UK Legislation

"Expats face £400 million tax raid"

This forum is for all the aspects of UK law that may affect expats - tax, social security, health, pensions, citizenship etc.

"Expats face £400 million tax raid"

Postby Kay » Tue 12 Aug 2014 19:13 GMT

Here's an article in the Telegraph which claims that expat couples could be up to £4,000 worse off p/a if legislation goes through to deprive them of offsetting house rents in the UK against their personal allowances.

Given that it's the Telegraph, it should be no surprise that they've taken an alarmist stance and described it as "Expats face £400 million tax raid".

http://www.telegraph.co.uk/finance/pers ... -raid.html

It's suggested in the article that expats should consider selling their UK rental properties and invest in overseas property or shares.

Additionally, they suggest that some expat retirees will have to return home as their planned retirement strategy goes up in smoke.

It doesn't affect us so it's not something I've looked into too deeply. Does it affect you? Any comments?
Not Delia - Foodie blog with lots of reviews and recipes.
Posted by:
User avatar
Kay
Site Admin
 
Posts: 15336
Joined: Wed 22 Jan 2003 13:06 GMT
Location: Kent for a couple of years

Postby Dave » Tue 12 Aug 2014 19:25 GMT

It's not just about house rents, important though those may be to some wealthier expats. Apparently the proposal is to withdraw the £10,000 personal allowance from anyone who doesn't have a "strong economic connection" to the UK, whatever that means. So if I'm reading it correctly, under the new proposal anyone who doesn't have a strong economic connection and receives income in the UK is liable to be taxed on it in future, even if it's less than £10,000 a year.
British Newspapers Online - your handy guide to the UK's national, regional and local press!
ErgoGuides - Great travel and business eBooks from British Expat!
Posted by:
User avatar
Dave
Site Admin
 
Posts: 7260
Joined: Tue 21 Jan 2003 15:04 GMT
Location: Currently UK


Return to UK Legislation