Tag Archives: UK tax

Moving from the UAE to the UK? Do you have a proper financial exit plan?

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When you relocate from one country to another there is a great deal you need to think about. These include the practical problems of shipping your possessions, finding a place to live, finding new schools for children, new employment and so on.

No doubt you will have lists of things to do but one area that is often overlooked is the financial side. It may not be exciting but you need to be aware of these issues to avoid any nasty surprise tax bills, especially in respect of UAE income or offshore investments.

Getting it right will save you money. Getting it wrong can be expensive.

I provide an exit planning service for people relocating to the UK and this professional service, with a personalised advice and a written report you can refer back to, can save you both money and headaches.

This article was updated in April 2024 so please see the latest version:

Moving from the UAE to the UK? You need a financial exit plan.

 

If you are unsure as to whether a move to the UK is right for you, I work with a expert counsellor who supports expats in making life decisions. She has the personal experience to give you the guidance to make the right decisions for you and your family. Contact me for a no-obligation referral.

I am a highly-qualified and experienced Independent Financial Adviser with over 30 years of experience, the last 18 in the UAE and prior to that in the UK. I provide a fee-based personal financial planning service to expatriates resident in the GCC. I also comment on all kinds of financial isues in  The National  newspaper and have a regular column where I answer reader  questions. You’ll see my name in other UAE publications from time to time.  My business motto is proper advice for nice people.

Please take a look at the many other useful articles on this website.

 

leaving dubai

 

News: Tax update for expats unable to leave the UK

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HMRC (Her Majesty’s Revenue & Customs) has announced that it will be giving special treatment to non-residents who are forced to stay in the UK exceeding their permitted number of days. With quite a few expats unable to leave due to closed borders and lock downs, I was expecting an announcement and this is helpful news.

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UK Budget March 2020 – the facts for expats

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This is the first budget of this Government and the first by Chancellor, Rishi Sunak, less than a month after taking over at the Treasury.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK. The UK press will cover many points in detail but much of this is not directly relevant to expats so this article focuses of the relevant points for us. I have included specific measure related to COVID-19 as this has a significant impact on the economy and a wide-ranging, knock-on effect.

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Expats in The UAE & Money. 10 mistakes you want to avoid

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This articles has been update so please see the below link for the article from August 2024

Living in the UAE. 10 major money mistakes you want to avoid

Living in the UAE. 10 major money mistakes you want to avoid

 

 

 

How much do those Christmas pop songs earn every year?

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Every year, we hear familiar songs on the radio but have you ever stopped to wonder just how much the writers and performers receive from the repeated airplay? The amounts may surprise you as for the biggest songs the amounts are very large indeed. No wonder some artists refer to these hits as their pension funds!

The revenue goes to writers and performers, not always the same people, but if they both write it and perform it, the income is even bigger. Many artists have given it a go but not all are successful. The actual amounts below are amalgamated from multiple sources as the Performing Rights Society does not release this information.

Most of the best loved Christmas songs are not recent ,with the 70s and 80s being a golden era in terms of the UK charts, so the total royalties have really added up over the years. The law in the UK changed in 2011 so that now royalties last the entire life of the songwriter and another 70 years after they have passed away. In the US, they are payable for 95 years following a similar change in legislation in 1998. These earnings can support not only the writers and artists but also their dependents.

Here are some facts and figures about some of the biggest earners.

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News: Risk of UK State Pension freeze remains for British pensioners in Europe

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Starting next week some 360,000 British pensioners living in Europe will receive letters from The Department for Work and Pensions (DWP)  confirming that their UK State Pension pension will rise each year for at least the next three years in the event of a no-deal Brexit. There are no guarantees that these increases will continue after this time. Continue reading →

UK Spring Statement 2019 – points of relevance to expats

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The UK’s Chancellor of the Exchequer, Philip Hammond, has today delivered his Spring Statement. Less formal or broad in scope than the Budget, which moved to the Autumn last year, this is not about announcements on tax or spending, but more about economic forecasts.

The Chancellor himself describes this as a ‘non event’ from a financial point of view  but  since 1975, the government has been legally obliged to produce its projections for the economy and the public finances twice a year. That’s why have a main budget and this lower key announcement.

The question for expats, as ever, is how does it affect us?

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UAE Public Holidays for 2019

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These are the official dates of public holidays for the UAE for the coming year, as well as notable dates, so you can make a note in your diary now and plan ahead. Actual days off work for both the public and private sector should vary less than in the past and these are the dates announced by the Government so far.

This article was edited in September 2019 following an announcement by the Federal Authority for Government Human Resources (FAHR).

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Tax information for British expats – the Personal Allowance

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The UK has a progressive tax system and so the rate of tax payable increases as income increases. All UK residents have a Personal Allowance which means that the first part of their income is free from UK income tax.  For the tax year 2020/21 this is £12,500 but you need to be aware of a change in the system.

The Personal Allowance is also available to people who are not resident in the UK provided they are a citizen of a European Economic Area (EEA) country, which includes all British passport-holders. It also applies to anyone who has worked for the UK government at any time during the relevant tax year.

There is however a change in the way that non-residents, expatriates, claim this allowance which has not been widely publicised so if you are UK non-resident for tax purposes and have income arising in the UK, such as rental income, you need to read on.

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UK Autumn Budget 2018 – the facts for expats

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This is just the second UK Autumn Budget and unusually it was on a Monday, the first time since 1962.  Budgets are normally on a Wednesday but that would fall on Halloween this year so too much of a gift to headline writers.

This is the last Budget before Brexit and not too much was expected as the UK Government is dealing with complicated Brexit issues although there will be a Spring Statement that can be upgraded to a full Budget if deemed necessary.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK. The UK press will cover many points in detail but much of this is not directly relevant to expats so this article focuses of the relevant points for us. Continue reading →