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Where Taxpayers and Advisers Meet

Search found 7 matches

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by offshoreworker
Fri Nov 13, 2015 7:31 am
Forum: Savings & Investments, Pensions & Retirement
Topic: Tax On A Defined Contributions Savings Arrangement
Replies: 0
Views: 937

Tax On A Defined Contributions Savings Arrangement

Good morning. Could anybody please tell me how I would calculate the tax owed if was to take a lump sum from my company’s savings plan? “The Plan is a defined contribution savings arrangement established under a Trust Deed and Rules in the Isle of Man. The Plan is registered with the Isle of Man Ins...
by offshoreworker
Tue Mar 10, 2015 9:21 am
Forum: Tax Investigations and Enquiries
Topic: BMST tax
Replies: 3
Views: 1943

Re: BMST tax

Biltax,

I,m sure you are aware now that BMST was a complete scam ran by DISS accounting services.

With regards to challenging HMRC in the courts do you have any idea how much this would cost LOL :D

For what its worth i believe "he" is still alive. :evil: :evil:
by offshoreworker
Tue Mar 03, 2015 10:52 pm
Forum: Income Tax
Topic: Working Offshore in Angola
Replies: 7
Views: 2222

Re: Working Offshore in Angola

Okay 17% is not the end of the world? Pay the 17% and then asuming you work 7 x 12 hours during your 28 days at work then qualifying for the 3rd automatic test is doable. This would allow you 2 weeks (more or less) out of your 4 in the UK. Its a shame you have to pay the overseas taxes yourself as o...
by offshoreworker
Sat Feb 21, 2015 3:08 am
Forum: Income Tax
Topic: Working Offshore in Angola
Replies: 7
Views: 2222

Re: Working Offshore in Angola

Les, You cant/wont pay tax in 2 countries. I would say your main problem is the fact that you and not your employer has to pay the Angola tax! So basically if you are paying tax in Angola then the amount you pay there can be used to offset your UK liabilities. What percentage of tax will you have to...
by offshoreworker
Wed Feb 11, 2015 10:58 pm
Forum: International Tax
Topic: "Significant break & 3rd automatic overseas test
Replies: 3
Views: 2358

Re: "Significant break & 3rd automatic overseas test

I too am trying to get my head around what constitutes annual leave. I work offshore my rotation is 28 days work followed my 28 days leave. I know the 28 days is under the 31 days threshold for a "significant break" however i would be interested to hear your thoughts on my 28 days leave in particula...
by offshoreworker
Wed Feb 11, 2015 8:10 am
Forum: Income Tax
Topic: Working Offshore in Angola
Replies: 7
Views: 2222

Re: Working Offshore in Angola

Les,

I believe you could easily qualify for the 3rd automatic overseas test and ultimately pay no tax.

Basically you would need to limit your days into the UK to 90.
by offshoreworker
Wed Feb 11, 2015 8:07 am
Forum: Income Tax
Topic: SRT for a person working overseas on rotation
Replies: 5
Views: 1358

Re: SRT for a person working overseas on rotation

Hi i would be interested in hearing anyone's thoughts regarding a 28/28 day rotation working offshore and overseas. The scenario is i am just about to return to work after my 28 days leave when my employer requests i stay at home for a further 7 days on stand-by rate. This means i will have had a br...

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