Offshore account

[crud-aling]

I currently work abroad, tax and NI free. If I were to open a offshore acount would I still have to pay the 40% tax for moving my money offshore or would I be exempt?
Thanks

[PFA]

Hi Crud

A simple ans - at the moment NO (or less than 40% depending on the "shore")- you will not have to pay the entire tax amount but it will be taxed the moment you take it into the UK TAX jurisdiction.


On another note - there is a bill in progress that proposes to START charging tax on offshore acc's (bill introduced about 2005-2006 area..not sure if it has become a law now)- some exeptions (dont ask me what / why!!!).

[KingOpabinia]

Hi there, cruddy nice to see you on here. You've got to be using the word work in it's loosest form surely. I heard you just sit around analysing funny blips on a monitor and enjoying the local customs.