Tax evasion if moving abroad?
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Hi, when I'm older I think I'd like to move abroad, been to many countries I prefer than Britain. If I started a software business in britain (i wanna rival M$ office one day) and it raked loads of money in, if i moved abroad, would i still have to pay tax to the UK? Or would it be to the new country where I was living. (Also if you live abroad, how long can you visit home for each year to be classed as not permenantly living here?) Also, I read if your company base is abroad then you don't pay british taxes? Is that true, because if it is i dont understand it. I ean, if that is you're income, and you're still living in Britain you should be paying tax based on your income still, right? Budding entrapranur here who doesnt mind moving abroad! But would like to visit family and friends for a while each year still. oh also what if i created a company in someone elses name, who live abroad, and had all the money sent into that persons account? And I neva brought any of that money over to britain to spend, but dished into it when i went over there? ie. i knew the guys pin number. Cheers 4 ya answers!
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Answer:
If you are UK domiciled, even if you live abroad, you are liable for UK taxes. The country you get to may have a double taxation agreement with us so you don't have to pay tax twice (that would be ironic wouldn't it?) As you probably know tax evasion is illegal (and could get someone close to you done for money laundering) but tax avoidance isn't
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