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Where Taxpayers and Advisers Meet

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by AmanSood
Fri Jul 13, 2018 12:53 pm
Forum: Income Tax
Topic: Optimise salary/dividend when moving abroad
Replies: 1
Views: 317

Re: Optimise salary/dividend when moving abroad

I am the sole director of a UK ltd. I will soon be moving to Germany and my company will stop paying myself salary/dividend as soon as I move there as I will start earning a salary there. My question is about the calculation of UK income tax for the part of the current tax year in which I am a UK r...
by AmanSood
Fri Jul 13, 2018 12:48 pm
Forum: Income Tax
Topic: Employee Self-assessment -how can I reduce my tax bill
Replies: 2
Views: 407

Re: Employee Self-assessment -how can I reduce my tax bill

Hi, I am an employee who in 2016/2017 and 2017/2018 earned over 100k. As it was due to the bonuses and my base salary was below 100k - I underpaid taxes. I own 6k for two years combined. I am looking for advice if it would be possible for me to reduce the tax bill. I've never done self-assessment. ...
by AmanSood
Mon Jun 11, 2018 1:24 pm
Forum: Income Tax
Topic: New venture
Replies: 1
Views: 491

Re: New venture

given that you plan to keep your current employments, then most efficient approach would most likely be to set up a company in which you are joint shareholders/directors of it and pay yourself dividends. but as you say you need to obtain tax advice to ensure this is the best approach for you given y...
by AmanSood
Mon Jun 11, 2018 1:20 pm
Forum: International Tax
Topic: Unremitted Employment Related Securities (ERS) income
Replies: 3
Views: 987

Re: Unremitted Employment Related Securities (ERS) income

the UK tax treatment would really depend on the type of shares/share plan. Assuming that you are non-UK tax resident at the award of the restricted shares and were not UK tax resident at any point from grant of the award through to vesting then there shouldn't be any UK tax payable on vesting.
by AmanSood
Mon Jun 11, 2018 1:18 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Question about a Bonus and NIC
Replies: 1
Views: 945

Re: Question about a Bonus and NIC

If the friend is your employee and not UK resident/lives abroad then there's no requirement to pay Class 1 NIC as he's liable to social security in Singapore. This assumes the friend wasn't previously working in the UK. If your friend is self employed and not your employee then there would be no Cla...
by AmanSood
Fri May 18, 2018 10:01 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: tax on stock options for international employees
Replies: 1
Views: 1150

Re: tax on stock options for international employees

depends on how the scheme is set up but i believe you have only one date in which you are granted shares and the shares are not granted each year. Hence why the relevant vesting period is grant to vest e.g. year 3 2/3 of the award would be taxable in the UK, year 4, 2/4 of the award etc.
by AmanSood
Fri May 18, 2018 9:58 pm
Forum: International Tax
Topic: No expatriation tax on company shares when leaving the UK?
Replies: 3
Views: 1015

Re: No expatriation tax on company shares when leaving the UK?

UK does not have any expatriation tax. However, there are temporary non-residence rules which would look to tax you if you returned to the UK within a 5yr period and would be worth considering.
by AmanSood
Fri May 18, 2018 9:55 pm
Forum: Income Tax
Topic: Claiming mileage back from hmrc, buisness or personal?
Replies: 6
Views: 653

Re: Claiming mileage back from hmrc, buisness or personal?

Unfortunately not. travel home from your permanent workplace would not be classed as business mileage.
by AmanSood
Sun Apr 01, 2018 6:40 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Taxes for stock options for international employees
Replies: 1
Views: 1045

Re: Taxes for stock options for international employees

On the basis that the tax is being paid after your assignment in the UK ended and after issue of the Form P45 then the employer can't issue a P60 as you are not in employment with the UK entity. A letter detailing the tax which has been paid in the UK would suffice and should be used to claim any ta...
by AmanSood
Sun Apr 01, 2018 6:35 pm
Forum: International Tax
Topic: Paying commission to individuals outside the UK
Replies: 1
Views: 592

Re: Paying commission to individuals outside the UK

Assuming these individuals engaged overseas are self employed and not employees e.g. do not work fulltime for you, are not integrated with your company etc then they would be responsible for their own taxes and the commission payments should be recorded as a consultancy expense.

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