What's The Situation?

[plachon]

If I'm classified as a Non-resident in UK, then i want to transfer some foreign earnings back to a UK bank a/c, is it liable to tax as income?

[Expat2B]

I think as a non res, you are liable for Uk tax for UK earnings only. Thus if you transfer money into an on-shore UK account you will be liable for tax on the interest. The solution is to open an off-shore (Jersey, Isle of Man etc.) account with a UK bank and thus avoid any tax liability within the UK proper.

[taxexile]

if tax has already been paid on these earnings and you have the paperwork to prove that, then there should bo no further tax liability in the uk, other than tax on the interest it accrues from sitting in an account.

as expat2b says,offshore in jersey or the isle of man is the way to go.

thereby keeping your hard earned money for yourself and those you love and out of the hands of the avaricious lowlifes who call themselves the labour party who will take your money and "redistribute" it to the undeserving workshy of the uk.

[plachon]

Thanks for the advice guys. It's what I suspected, though the amount of interest earned on any UK or offshore a/c these days is so minimal as to be not to be more than a piss in a pot. But, if I decided to open an offshore account, can anyone give any impartial recommendations of the choices available for a savings-based a/c, with an idea of yearly charges. I've already checked HSBC's website, but what about the others?

[Rocket]

I've still got my offshore a/c in Jersey (17 years) with Nat West - No problems to date.