Cheating Revenue Tax Evasion Charge
In April 2010, the Crown Prosecution Service (CPS) joined forces with the Revenue and Customs Prosec...
Dec 11, 2018
TAX ON FOREIGN INCOME
PAY ACCURATE TAX YOU OWE ON FOREIGN INCOME
Generally speaking, individuals who are deemed to be resident in the United Kingdom are required to pay UK income tax on their worldwide income and gains. However, there are a multitude of exceptions which can be deemed to apply for specific situations and therefore it is wise to seek personal foreign income tax advice. If an individual is working at sea (whether aboard a ship or offshore in the oil and gas industry), or for the EU or UK government, for example as a diplomat or a volunteer development worker, then different tax rules may apply. If you hold foreign deposits, you will only be required to pay UK income tax on deposits if you are a UK resident. This is also true if you are a resident and non-domiciled when you remit these to the UK. If you are unsure about any aspect of interest income please get in touch for professional advice.
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Tax Accountants called me shortly after I had set up a company just as I was looking for an account. They asked a few questions and my intentions and they explained about tax planning saving me the time of blindly fishing around in the dark.
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