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Where Taxpayers and Advisers Meet

Offshore Bank Account

billtax
Posts: 13
Joined: Sat Nov 30, 2013 11:28 am

Offshore Bank Account

Postby billtax » Fri Jan 24, 2014 5:15 pm

Hi

I am paid by a foreign employer into an Offshore Bank account in the Isle of Man, I am paid in dollars.

I do not transfer all my wages to my Uk bank account during the year only really what i live on.

Due to my rotation offshore I am in Uk for less than 183 days but more than 91

Do I have to declare all the money I have been paid on my tax return or just the amount paid into my UK bank account

maths
Posts: 7553
Joined: Wed Aug 06, 2008 3:25 pm

Re: Offshore Bank Account

Postby maths » Sat Jan 25, 2014 12:50 am

Are you UK domiciled.

Is the seafarers deduction relevant to you.

By "offshore" do you mean outside UK territorial waters?

billtax
Posts: 13
Joined: Sat Nov 30, 2013 11:28 am

Re: Offshore Bank Account

Postby billtax » Sat Jan 25, 2014 4:30 am

Hi

No I am not a seafarer just a frustrated oil worker

maths
Posts: 7553
Joined: Wed Aug 06, 2008 3:25 pm

Re: Offshore Bank Account

Postby maths » Sat Jan 25, 2014 4:36 pm

In addition to being "frustrated" what about my other two questions.

billtax
Posts: 13
Joined: Sat Nov 30, 2013 11:28 am

Re: Offshore Bank Account

Postby billtax » Thu Feb 27, 2014 11:50 am

Hi
I have a house in the UK and I will reside there during my 91 days in the country

I am hoping to go Tax Free from April and spend no more than 91 days in the country

ptpash
Posts: 79
Joined: Thu Jul 14, 2011 12:15 pm

Re: Offshore Bank Account

Postby ptpash » Thu Feb 27, 2014 8:51 pm

If you work in UK territorial waters then you are exposed to UK tax irrespective of your residence status and irrespective of where your salary is paid.


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