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Paying tax whilst working and living abroad


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Good Morning EveryoneI'am looking for some advice.I'm currently the director of a limited company and i will be leaving the UK in August to work abroad for a number of years so as from March 2014 my limited company will become dormant as advised by my accountant. My accountant has also advised me that i will still be required to complete a shelf assessment in every year even though the company is dormant.As I'am registering with HMRC to be a non residant in the UK via a P85 so what i earn in abroad will not be taxed when or if i do return to live in the country will me having to complete a self assessment tax return and having a dormant limited company affect my UK residancy?Thanks

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All company directors normally have to do Self Assessment. It doesn't matter where you are resident or what the company's status is. The only way around this will be to ask HMRC to consider waiving this requirement, if they can actually do so legally, once you have filed at least one nil return (say for the 2014-2015 tax year).

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I have worked abroad for a few years years now. I always file an annual tax return just to remain "on the radar" in case I ever go back to the UK. It is easy. I do it online in just a few minutes.

 

I have a small UK income of £120 a month, which is taxed. Then it is refunded to me each year.

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