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HMRC Is Coming For UK Leavers (Don't Make These Mistakes)

Michelle Eames - Helpbox UK

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TIMESTAMPS

0:00 - Intro
0:23 - Pensions Are No Longer an Inheritance Tax Loophole
1:45- Fiscal Drag
3:51 - Savings Could Become A Tax Problem
5:52 - It's Not Just Your Pension... Your Other Assets Matter Too
8:24- Business Owners Have Another Challenge To Think About
10:02 - So... What Should You Actually Do Now?

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Helpbox UK, Fareham, England

⚠️ Disclaimer:
All opinions are my own. Information is correct at time of filming. This video does not constitute personalised financial advice.

20 Comments

@helpboxuk Creator 1 month ago Pinned

Run a small business and need some help with tax and accounts?

Book a Free Quote → https://bit.ly/46mvGqR

@pauljenkinson1452 1 month ago

I hate this country now.

@ixxeon 1 month ago

So I watched your video, booked a discovery call only to find out you don’t do tax advice for expats and you’re just regular accountants. !

@brexpatfarang3780 3 weeks ago

What is unfair is that the UK continues to tax non residents but if you go back to the UK you have to wait 6 months before you can register with the NHS

@ianwatson3315 3 weeks ago

Not lived in Uk for 14 years- haven’t owned a car of home there since 2013.

@richardrigby3755 3 weeks ago

Been overseas for 20 years, during covid many colleagues ran back to the UK because of perceived risks overseas started working online for the oversea employer and got trapped/ accidentally they became tax residents, and got caught out leading to all sorts of tax challenges/demands not only from the UK but also when the HMRC contacted the tax authorities in their new homes about their UK income they had failed to disclose as income in there expat tax residency. Often expats have UK property income and suddenly once domicile in the UK they are being taxed on their salary income from an overseas job, and rental income and they are in higher tax band and the host country needs they to confirm that their tax residency has changed albeit being intentionally short term and HMRC then has to tell them if there is agreement about all their UK taxable income and visa versa with the host country and just like that you can be in trouble with two tax agencies.

@jamie1944 3 weeks ago

I am non resident live in Thailand, my U.K. State Pension and Private Pension are both paid in the U.K. therefore the HMRC have first claim to tax it.

@TheCornishSailors 1 month ago

Wow. Great information. Thanks for sharing.

@marcusoutdoors4999 1 month ago

Thanks, extremely useful and makes sense.

@martinhemming2076 10 days ago

OK, I moved to the USA, 5 years ago. Did all the form! No problem. I have no ties to the auK apart from my UK state pension and a couple 9f work place pensions. UK state pension is not subject to US tax under a double taxation agreement. However, my work place pensions and state pension, are subject to UK tax. Everyone who leaves still has a UK personal tax allowance, for which you pay tax on any income above your allowance.

I needed to get the US tax authorities to supply HMRC with a certificate of residency, here in the USA. Once HMRC are happy, I then get a new tax code ending in NT making my UK pensions nontaxab.e in the UK. You NEVER leave HMRC !

@stuc3195 3 weeks ago

I left 20 years ago. Theyll never find me 😅

@Hsoona_121 3 weeks ago

No dates to book a call… dam!

@Smiths-k7p 1 month ago

Do you provide financial advice as well please?

@matthewwestern 1 month ago

I've been non-resident for over a decade. The "fewer than 16 day" rule, followed by the "fewer than 46 day" rule after 3 tax years. In those cases ties don't matter and you are deemed automatically non-resident. Basically Xmas in the UK and summer somewhere nice 😅

@bethanyhannay6554 3 weeks ago

Only the very rich can afford to leave meaning labour lose 80% of tax to squander on their criminals. Why should these evil people force us to leave?

@myturkishlife1777 3 weeks ago

I lost all respect for HMRC, told them countless times about my position living abroad, for last 10 years, now they claim I owe money on foreign interest..
I don't have a house,car,bank account or even a UK mobile phone and only spend maximum 15 to 20 days per year in UK...
These people are insane, and if you call HMRC each time you are told to do something different, P85, SA100,SA109 etc, there attitude stinks so now only communicate through writing.
Crazy thing is they say they owe me £7k which they don't.. bloody joke , lost all respect ... They can fo afaik..

@gnewgnew2011 4 weeks ago (edited)

So what about the situation when I'm working in a fairly international industry, which is a construction industry. I've been working in the UK for 10 years but my company offered me a contract in the Middle East for 2 years, which is tax free. I want to spend those 2 years over there, earn as much as a can and then transfer it back to the UK. Can I do this without paying UK tax?