Hi,
I moved to the UK from abroad 3 years ago on secondment and have now been offered a permanent role in the UK by my employer. As part of the package offered to me, there is a significant component of Relocation Allowance included which will be paid by my employer after I purchase a house here in the UK but within one year. This allowance once paid out will push me into the higher or additional income tax bracket resulting in a major proportion of the relocation assistance being paid out as income tax. Is there an established legal methodology to reduce my tax liability for this One-Off Relocation Allowance?
Thanks in advance.
Riz
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