Tax payments

[Michael R]

I was born overseas, was educated in the UK since the age of 15, and have been living and working in the UK having obtained UK citizenship in 1987. I am currently a high rate tax payer in the UK.

Recently I heard that if someone born in another country (such as myself)were to inform the tax office that they plan to retire or return to that country in the future, they would be able to pay tax in the UK on their earnings at the rate of the country they plan to return/retire to.

Please can you let me know if this is correct and if so, the steps one would take to explore this further.

Many thanks.

[deanshepherd]

That is not strictly correct.

Broadly speaking, if you are non-UK domiciled then you are only taxed on non-UK income to the extent that it is remitted to the UK.

If you are UK domiciled then you are taxed on your worldwide income regardless of whether you bring it back to the UK or not.

Do you have any income arising outside the UK?


Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk