Your interactive guide to living abroad as recommended by local mums | Last updated 2 months ago

Finance

Taxation Abroad

It is really important you get good tax advice before you move and start earning abroad. Money invested now in good advice could save you in the long run. Rules from Expats from one country may well not apply to those from another country. For example US Expat tax is very different from that of the UK. For those of you who move abroad and rent out your house in your home country this will be eligble for tax. You may need to pay income tax on your foreign income, eg:

  • Wages if you work abroad
  • Foreign investments and savings interest
  • Rental income on overseas property
  • Income from pensions held overseas, eg if you’ve worked abroad

 

Whether you need to pay depends on where you’re classed as ‘resident’ for tax for example as a UK citizen if you get a job whilst abroad and you are no longer a UK resident, you won’t have to pay UK tax on your foreign income.

  • Expat Tax USA

    When moving overseas, one of the biggest questions many have concerns Expat Tax. Unfortunately, America is one of a handful of countries that vigorously pursues taxes worldwide – so don’t expect to avoid a U.S. tax debt by moving overseas. As a matter of fact, you’re not even allowed to give up your U.S. citizenship to eliminate a tax obligation.

    Click here for US Federal Tax Liability

  • Expat Tax UK

    You usually have to pay tax on your UK income even if you’re not a UK resident. Income includes things like: pension, rental income, savings, interest and wages

    Click here to read more