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No permanent address, not in UK, tax loops?

Discussion in 'BlackHat Lounge' started by leehughes, Feb 4, 2011.

  1. leehughes

    leehughes Regular Member

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    Hi,

    I'm leaving the UK soon and I have no permanent address but i'll still be making money online etc via different business. What will be the tax situation if i'm like this? Are there any loop holes?

    Thanks
     
  2. wholesalereplica

    wholesalereplica BANNED BANNED

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    if you leave the UK and do not live there for a tax year , you are not liable for personal income tax for that year, I do not know where you are going so I cannot comment on the tax regime there
     
  3. leehughes

    leehughes Regular Member

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    I'm traveling for about 1 year down to New Zealand.
     
  4. oxonbeef

    oxonbeef BANNED BANNED

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    What is your tax status at the moment? Are you "trading as?"
    An "employee?"
    Even as a director you are an employee.
    Where is your income being paid to?
    If it is paid into a UK bank you will have a certain liability.
    With these posts popping up it makes me wonder if any of you
    do any form of self assessment or even have a business model in place.
    My accountant is worth every penny I pay him.
     
  5. leehughes

    leehughes Regular Member

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    I work a normal job at the moment but i'll be quitting that and getting my income via adsense and a family business which needs to be passed via an accountant for our books.

    My income will be payed into my HBSC bank account (adsense and other aff programs also linked up). My family business money will also be added via this account.
     
  6. oxonbeef

    oxonbeef BANNED BANNED

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    If the money from your family business is not taxed at source ie PAYE then
    you will have to complete a self assessment. The problem being there HMRC
    will also see your other earnings and want you to account for them as well.
    I would keep the two totally separate.
    Another thing to be on the look out for when becoming self employed is
    your national insurance contribution. Although it is called a contribution it
    is in fact a tax and you will be prosecuted for non payment.

    I'm not an accountant and not qualified to give financial advice.
     
  7. leehughes

    leehughes Regular Member

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    I appreciate your help.

    So the simple fact is that even though i'm not living in UK or anything i'll still have to pay?

    I'll pass this info on to my mums accountant and see what she comes up with. :)