What is the country with the lowest capital gains?

[chump]

PK,
The usual rules (there are exceptions) is that when you establish tax residency in another country you will not then be taxable here in the UK (double taxation agreement). How to establish tax residency..normally entering a country and staying for longer than 180 days in the current tax year will establish residency and bear in mind the Uk tax year Apr-Apr is pretty much the exception to the rule..most run Jan to Dec.
Becoming tax resident has nothing to do with citizenship.
Moreover if you were generating revenue ,but did not exceed the 180 days rule and if you were not paying tax elsewhere on that revenue then you will normally be taxable in the country in which the service etc was performed.
In addition ,there are usually other formalities to go through in establishing you new presence in the country you are moving to..this varies country to country..last but not least you need to inform the UK authorities that you are moving out of this country and you do this by completing a P86 which you can dwnload from www.inlandrevenue .gov

Yes, I will be here awhile due to family commitments ,but longer term I won't be staying.

Cheers

 

[Roberto]

to be considered ex-pat fromUKis as simple as spending less than 90 days in UK in a year.

To be considered an ex-pat by your brother-in-law, perhaps ... but to be considered both domiciled and resident abroad (2 very different things) by the Inland Revenue, I'm afraid there's a lot more to it than that! This is not something that anyone should plan on the basis of bulletin-board chat, anyway: you need to see a _specialist_ accountant.

By the way, under the "90-day rule", the day of entry and the day of exit don't count. So you can live in Guernsey, fly in to London on a Monday morning and out again on Wednesday night, and you've only been here for 1 day that counts towards the 90.

 

[chump]

For clarity..it is nights spent in country...here's one to frighten you all...current debate from our beloved Gordon...that even when you move abroad you will still retain UK domicility in perpetuity and as such will be required to complete a UK tax return each year no matter where else you may be tax resident....there is no hiding place ..this is still debate ,but don't be surprised to see it enacted at some point..

 

[Roberto]

don't be surprised to see it enacted at some point..

"Surprised" isn't quite the word which would describe my feelings. Something they wouldn't print here would be more appropriate. One would hope that there'd be some sort of international pressure to prevent this becoming a reality, though. European law? Human rights? Something, anyway ... (he added optimistically) ...

 

[chump]

I'm out of the business,but try to keep aware of moves to change regulations...what I can say is the UK is not in isolation with this TYPE of issue..there is a more generalised approach certainly within Western mainland European countries to tighten the noose on who is doing what and where...shortening of incountry period before you notify the authorities of your presence etc etc are all signalling the same desire to curtail the individuals ability to slip through the tax net...

Going back to the remark about France...LOL...what a bureaucratic nightmare for social security...and overall , very expensive place to park your bus...indeed Western European countries tend to share the same overall expensive approach....top heavy social security systems they cannot afford to maintain...labour laws that make employment issues a nightmare for employers..and they wonder why they can't achieve substantial growth...LOL...it's called non competition...the UK strangely is not fully integrated into this bag of tricks yet,but give it time and I am sure it will get there..

 

[TraderPattern]

India is great, and curry is cheap there.

 

[chump]

TP,
Good to see you are maintaining the qualitative consistency of your posts

 

[llew]

re

Its not worth being here, I just want to find the best place to go for tax, property, and cost of living.[/QUOTE]

Try Sweden,property very cheap bit cold in the winter though,you can get 2 meg broadband as well.

 

[Gordon Gekko]

http://www.trade2win.com/boards/showthread.php?t=10418

 

[henry766]

isn't it possible not be resident for tax here or anywhere else as long as your not resident here ( 190days ?) and not long enough anywhere else to be considered resident?i believe there's even a term for it which i forget)

 

[chump]

Henry,
In a word NO...see above..this is a common misunderstanding

 

[Roberto]

Chump is absolutely right about this, Henry. I've been investigating it recently and my Cousin The Chartered Accountant also confirms it.

 

[SP23]

India is great, and curry is cheap there.

I could curry my toe nail clippings and they'd taste good !!

:cheesy:

 

[eminem]

isn't it possible not be resident for tax here or anywhere else as long as your not resident here ( 190days ?) and not long enough anywhere else to be considered resident?i believe there's even a term for it which i forget)

I think the phrase you may be thinking of is Perpetual Traveller (PT)?? This was possible a few years ago, but I haven't looked at it recently so things may have changed (probably due to 9/11 issues). The idea behind being a PT was that you wouldn't stay in any one country long enough to be resident for tax purposes, you were always classed as just visiting (ie a tourist)

 

[oatman]

I could curry my toe nail clippings and they'd taste good !!

Yea, but would you eat them?

 

[SP23]

I could curry my toe nail clippings and they'd taste good !!

Yea, but would you eat them?

NO !! And there's no way I'd eat a curry either !!

.

 

[henry766]

thanks eminem , i'm not sure it has changed either , and you also don't have to move on as often one might think !! like you say didn't the spice girls do just this a few years back?

 

[chump]

"that you wouldn't stay in any one country long enough to be resident for tax purposes, you were always classed as just visiting (ie a tourist)"...let's be very clear this has never had a basis in law....it does however exist in wishful thinking....if you earn then you are liable to pay tax somewhere..the rules are just to determine where that somewhere is...not if there is a liability..

 

[roguetrader]

PK,
The usual rules (there are exceptions) is that when you establish tax residency in another country you will not then be taxable here in the UK (double taxation agreement). How to establish tax residency..normally entering a country and staying for longer than 180 days in the current tax year will establish residency and bear in mind the Uk tax year Apr-Apr is pretty much the exception to the rule..most run Jan to Dec.

Having been a tax exile for five years I was informed by the Inland Revenue that if I was in the UK for 90 days ormore in any one year I would be subject to UK taxation assuming I was not already paying tax anywhere else.

 

[chump]

Rogue,
The information you were given is correct....180 days is the initial time criteria...for the UK it is then aggregated to 90 days pa over any 4 year period for longer absences,but again this is subject to whether you are being taxed elsewhere in a country that has a double taxation agreement with the UK.