UK tax question for non-resident

[tuxen]

Hi all,

I've read through alot of previous posts unable to find an answer so ill post my question here:

I am permanent traveller(move every 2 months), i do not spend more than 1 month in the UK each year.

I am an Australian citizen, and a non-resident of Australia, which means i dont have to pay tax on income made outside of Australia.

If i trade/invest in UK stocks, do i have to pay any tax in the UK?

Thanks in advance.

 

[rog1111]

.....although presumably you are Oz domiciled so you will be liable for Oz tax if you remit any money back there.

Technically you could be tax liable on any income earned in the UK, but since you are non-res then in practice I cant see you having a problem. Maintain an offshore (non-UK, but not Oz either) bank account then pay earnings from the brokerage account to that.

GL

rog1111

 

[tuxen]

As far as Australian tax goes, if your classified as a non-resident, income OUTSIDE of Australia is not taxed by AU.

So if someone is a non-resident of the UK(say constantly travelling), and for example has a UK bank account used for trading shares, would that person be liable for tax within the UK?

 

[LION63]

You are not liable for UK income or capital gains taxes as you do not reside in the UK for more than 90 days a year.

 

[johnsavva]

Hi all,

I've read through alot of previous posts unable to find an answer so ill post my question here:

I am permanent traveller(move every 2 months), i do not spend more than 1 month in the UK each year.

I am an Australian citizen, and a non-resident of Australia, which means i dont have to pay tax on income made outside of Australia.

If i trade/invest in UK stocks, do i have to pay any tax in the UK?

Thanks in advance.

Tuxen

I am a tax accountant. With all due respect, some of the answers are a little incorrect. I can email you directly if you require further assistance.

Regards

John

 

[marcinek2323]

UK non domicile

Halo I have tax issue. I am uk resident but non domicile. I have acc with offshore broker who has got branch in UK but MY acc is held offshore , But I do have to fund my trading acc to one of brokers's UK accounts. My question is : Will the profits made with the broker be offshore profits or UK profits ?

Thank

MArk

I am a tax accountant. With all due respect, some of the answers are a little incorrect. I can email you directly if you require further assistance.

Regards

John[/QUOTE]