Escaping abroad

Article Abstract:

UK residents contemplating taking up residence abroad must consider their tax status, their residency, the status of their investments, and the tax regime of their new country. Expatriates will be considered ordinary UK residents unless they are absent from the UK for an entire tax year. Non-residents who return to the UK for visits will be considered ordinary residents if the length of visits in one year totals six months. Income originating in the UK will be taxed, regardless of the residency status of the individual. Income deriving from foreign sources will not be liable for UK taxes. Expatriates should be careful that their new country's tax regime is not more severe than that of the UK.

Citizenship, Expatriation, Domicile in taxation, Domicile (Taxation), Domicile, Domicile (Residence), Great Britain

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Labour pains?

Article Abstract:

Britain's opposition Labor Party is expected to make wide-ranging tax policy changes should it come into power. A future Labor government is expected to impose a new tax rate system which should result in higher tax bills and higher National Insurance Contributions for those earning over 20,800 pounds sterling. Changes are also expected in the taxation of capital gains and inheritances. Adjustments to the tax relief granted on personal pension contributions and mortgage loans may also be expected. The Labor Party's stand on PEPs, privatized state utilities, and BES schemes is still uncertain.

Political organizations, Pension, health, and welfare funds, Management, Taxation, Personal finance, Economic policy, Investments, Labour Party (United Kingdom), Pensions

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