Expat Tax Advisers

MC · Posted: Tue Jul 27, 2004 8:55 pm Post subject: Expat Tax Advisers

Has anybody found a reliable tax adviser?
Are there any specific items that I should pay attention to for the relocation to NZ from UK.

Lee&Nicky · I Like It Here Joined: 15 May 2004 Posts: 70

MC,

Wjat specific advice are you looking for? My wife and I work in UK tax and have looked at some aspects of NZ tax for our own emigration purposes. Can't promise anything, but we may have covered some of the ground you are trying to cover.

Send a PM if you prefer.

Lee

SteveR · Posted: Wed Jul 28, 2004 12:35 am Post subject: inland revenue

sorry to hijack the thread but does anyone know if you have to inform the UK inland revenue if you emigrate to NZ?
Hpefully i will be going on a 2yr work visa with the intention of gaining permanant residency.

thanks

Steve

Lee&Nicky · I Like It Here Joined: 15 May 2004 Posts: 70

Steve,

You don't have to tell the Inland Revenue you are going, but it would be wise to, if nothing else so that they don't keep sending official stuff to you that you never get and which may cause you to trigger financial penalties for failing to comply with them (eg annual tax return). In fact it may be a good idea to tell the Inland Revenue that you are going abroad as, depending on the length of time you out of the UK, you may be due a refund of some of your UK tax paid prior to departure (so extra pennies to spend in NZ). If you are going to NZ for two year I would suggest you cntact your local tax office and ask them to send you a form P85. I think it is pretty easy to complete without the need for professional help, you then send it to the tax office dealing with your tax affairs (if you don't know this, ask your employer - I'm assuming you are an employee as opposed to self employed).

You absolutely should tell the Inland Revenue if you are claiming family tax credits or the like, they take a dim view of people making false claims. Also, you are also supposed to tell agencies like the DSS, if you are claiming child benefit.

Lee

Graham Barnes · Posted: Wed Jul 28, 2004 2:16 am Post subject:

I'm not sure, but I would imagine you do, and it is probably in your interests to do so as UK and NZ have arrangements to prevent double taxation. For example, they will need to know if you are renting out your UK house as this is liable to UK tax.
On the plus side, they shouldn't charge you tax on any UK savings if you are resident overseas and if you are on PAYE, you should get a tax refund for the unused part of your personal tax allowance...how much will depend on when in the tax year you leave.

Graham

PS Just been beaten to this post by one minute by Lee who posted his whilst I was typing mine...clearly a bit more of an expert than me!

MC · Posted: Wed Jul 28, 2004 2:49 am Post subject:

Informing the Inland Revenue would be my 1st step, but more to do with taxation here from finances that I don't really or need to sell up and transfer, such as stocks & shares. But what are we able to reclaim, if anything, from our planned moved to NZ. Do people actually need tax advisers, I mean I managed to complete and submit my immigration papers by myself and have been provisionaly accepted, asked for the 12 month deadline to start from 1st Sept.

susanlin · Posted: Wed Jul 28, 2004 9:12 am Post subject: tax

Hi all

I have a query about tax stuff...what happens to ISA's left in UK? Do I still get tax relief?

Thanks
Sue

Graham Barnes · Posted: Wed Jul 28, 2004 12:31 pm Post subject:

Yes...but you're not allowed to move money from one fund to another, or to take out any new ISAs in the future,

Graham

susanlin · Posted: Wed Jul 28, 2004 7:24 pm Post subject:

Thanks for that Graham!
Sue

SteveR · Posted: Thu Jul 29, 2004 12:02 am Post subject:

thats for the info, Nice One

any money back off the inland revenue is always welcome.

Steve