What is split year tax treatment? How can that benefit you when relocating abroad?
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ProACT Sam examines how expats relocating overseas can tax advantage of split year rules as a one off opportunity to use personal allowances to maximise tax savings.
Read More![[Webinar] Timing Expat Income Dividends & Gains Over The Year](https://images.squarespace-cdn.com/content/v1/5395bf36e4b08d48e3de15c9/1646760947373-XMLIHI8D1ZW7OUVJ0NLN/unsplash-image-twoahjAsoO4.jpg)
Sam Orgill of ProACT Partnership considers the background and implications of EU Brexit for Expats Living and Working Abroad
The Clash wondered ‘Should I Stay or Should I Go?’ Indicating a level of indecision with narrow margins. The Jam successors Style Council replied with ‘You don’t have to sit back… you can actually try changin’ it an Walls will come tumbling down’. This was the 70’s angst of the UK as they agonisingly choose to be led into the ECC as it was then.
2016 - Fast forward to 2016 and Great Britain votes 52% to leave – an 18% swing. The EU walls come tumbling down, along with political careers, jobs and lifestyles. What went wrong with the relationship between the British and their European Cousins?
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Read MoreSam Orgill of ProACT Partnership discusses how Expats can get UK Tax Free Savings in a secured financial environment
Interest from Banks and Bonds
From April 2016 a £5000 tax saving income allowance exists in the UK. This saves £1000 tax. Yes you can earn £5000 in interest tax free.
Also the UK no longer charge tax on bank interest at source, from 2016 you will have to declare and pay tax on saving in a UK tax return or your country of tax residence.
Tax Saving Tip: Build up savings for UK interest free of UK at source and Cyprus Tax
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