The Tax Preparation Blog

Posts Tagged ‘employment’

Question: Have worked abroad, tax questions…?

I was working in Asia from September 2007-September 2008. I returned to the UK in September and have been working in the UK until now. I will move away again at the beginning of March and plan to live away permanently.

I was unaware of P85, P86 forms and never filled any in. Am I liable to pay tax on what I earned between September 2007-September 2008 even though I was abroad and will have been out of the country for more that 183 days in the tax years April 07-08 and April 08-09?

Answer: You remained resident in the Uk for tax purposes whilst you were abroad from Sept 07 to 08. Unless you are absent from the UK for a complete tax year (6 April to 5 April), you are resident and liable to tax on your worldwide income. You will get credit for any opverseas tax paid in that time.
Your period of absence from March 2009 will count as another period of absence and if you are out of the UK until at least 5/4/10, you will be non resident and not liable to Uk taxd on your overseas earnings.

Apple iMac MB418LL/A 24-Inch Desktop $1,499.00 The all-in-one iMac packs a complete, high-performance computer including the latest Intel Core 2 Duo processors into a beautifully thin, anodized aluminum and glass design. The latest Intel Core 2 Duo processor with advanced 45-nm process technology and 6MB of shared L2 cache, allowing you to run your applications faster and more efficiently than ever before. This iMac features a glossy 24-inch w…

Quicken Premier 2011 – [Old Version] $31.99 The Intuit Quicken 2011 Premier Software organizes all your accounts – bank, credit card, investments, loans, retirement accounts – in one place. Intuit Quicken 2011 Premier Software helps you simplify and organize your finances so you can save more,, maximize investments and grow your net worth….

Estate and Trust Administration For Dummies $10.19 Executing an estate or a trust fund is a big responsibility. Estate & Trust Administration For Dummies contains advice for handling estates and trusts of any size. It offers solid pointers on reading and interpreting a will and other documents, and helping heirs avoid paying too much (or too little). It also shows you how to take care of a loved one’s estate in the event that a will or trust wa…

---

Gold “Set to Break Higher” as UK Inflation Jumps, Eurozone Faces “No Good Solution” to Greek Deficit

THE PRICE OF GOLD slipped against the US and UK currencies on Tuesday but rose to a one-week high for Euro investors as the single currency fell on a series of poor data.

GAMBLER GORDON BROWN THE TAXconMAN ELECTION Crisis 2008/9/10 2 TRILLION UK DEBT! judep22 BEATLES

Question: I can’t afford to pay the income tax I owe for 2006/2007 in the UK. What happens next?

What are the consequences if I can’t pay my taxes – I owe thousands of pounds both from freelance income and as part of a partnership. The deadline was 31 of January 2008 but I did not pay a penny and I don’t think I will be able to pay anytime soon. Can they put me in jail for this? The only asset I have is a private pension but I can’t get it before I turn 55. Will the Tax Office seize it? Please help. Thank you!

Answer: They will work out a payment schedule with you.

UK Government Confirms 10,000 Disclosures Under Tax Amnesty

LONDON -(Dow Jones)- Ten thousand people have disclosed previously undeclared offshore income and gains under the U.K. government’s NDO tax amnesty, meaning revenue authorities can begin collecting unpaid tax, interest and penalties, the U.K. Treasury said Thursday.

HMRC sends scary letters re offshore accounts