I shall be moving to Cyprus in a few months. Cyprus has a double taxation treaty with the UK so that income, including a pension, brought to Cyprus is not subject to UK income tax (unless it is property rental income). Several issues and questions arise as to the most efficient way to manage my financial affairs.
1. I am keeping a property in the UK as I intend to return for visits. As I intend eventually to apply for non-domicile status would it be advisable for this property to be sold to and held by an offshore trust/company?
2. The 90 day rule applies so that I am not taxed as a UK resident. Is the onus on me to prove that I do not spend more than an average of 90 days in the UK? If so, how do I that? I have been told that I should keep airline boarding passes, but I fail to see how that proves anything.
3. After I have moved to Cyprus I will still be earning fees from UK companies for writing and consultancy. However the actual work, ie the writing, will be done in Cyprus and my only contact with the people commissioning my work will be by email. Can UK income tax be legitimately avoided by the fees being paid into, say, an offshore account?
4. If the answer to (3) above is no, but if my income is below the level (ie after allowances etc) at which any UK tax would be payable, would I still have to make a UK tax return each year?
5. Can I pay for the overheads for my UK property from an offshore account?
6. My tax accounting year ends on March 31. However I am moving at the end of October. Can I apply to do an early tax return so that I can wind up my affairs completely before I leave the UK – or is there no point in doing so?
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