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Taxes Intl Chat

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Hi :) I'm planning on doing slow travel around Europe and stop renting a house in uk. Do you know how i can keep paying taxes/ bank account /etc in the uk without an address? Or you know any accountants that can help?
eehebyxn Taxes will be due depending on your tax residence status, regardless of whether you have a current UK address or not. Check the Statutory Residence Test to find out.
Separately, HMRC requires you to inform them of any new address, whether within the UK or overseas. If you'll have no fixed address for a long period, you can register a virtual mail service or an accountant's office as a separate _correspondence address_ to make sure you keep receiving tax notices etc.
If you think you'll be UK non-resident for tax purposes, read HMRC's guidance here www.gov.uk/tax-right-retire-abroad-return-to-uk|https://www.gov.uk/tax-right-retire-abroad-return-to-uk
If you'll still be UK tax resident, tax is reported and paid exactly as before, and you can do everything online from overseas.
For bank accounts, most people change their registered address to a friend or relative's house before they start travelling. If your account is completely paperless, you might not need to even do that.
Technically you're supposed to inform your bank of any change in residence, but in practice they rarely check up on this proactively.
Thanks for the information and i just read that page.
I think i will be a non resident with uk income.
The best i can do is going to an accountant and make sure everything is filled properly. Im scared i put something wrong is those reports abd then pay massive fines or worse
my experience with UK tax...living abroad, working remotely and paying UK tax, returning to UK to do an eye test, had to pay for it because NHS requires you to live in UK for free tests. Why am I paying tax then?!
Yea Canada is the same. If you live outside Ontario, your national health coverage will expire even if youโ€™re still paying income tax
Itโ€™s totally ridiculous
That rule was put in place for snowbirds, pensioners who donโ€™t spend their pensions in Canada
ptmpk IIRC, eye tests aren't universally free on the NHS for residents anyway, it's limited to under 18s in full time education, over 60s and people on certain benefits.
you are entitled to a free eye test every 2 years as a resident
I had two free eye tests while living in UK and I was over 18 with no benefits
Anyone here use PayPal with a Labuan company?
well, then my opticians were generous ๐Ÿ˜„
Haha, I got a free eye test last time I was in the UK too, but the optician was just hoping I'd sign up for their contact lens subscription service afterwards
I did mine at SpecSavers, but they actually told me that I can have it for free because it's an NHS free eye test. They also mentioned that I can do that for free every two years, hence the info above. Not sure how this works ๐Ÿ˜„ maybe NHS has some deals with 3rd party companies
Cross-posting from taxes-us, bc itโ€™s that much of a puzzle:
Trying to wrap my head around my expected tax obligations for this next tax year - maybe someone here can point me in the right direction? I have somewhat of a unique situation I believe.
1. I am a US citizen and have paid taxes there my entire life
2. I am now director of a UK LTD company
3. So far, I have taken 0 salary from this company but expect to begin soon and once I do it will be my sole source of income
4. On January 4th I left the country for Thailand on a tourist visa. I expect to spend ~9 months out of this year in Thailand and the rest of the year hopping around to other countries in SEA. I anticipate meeting the requirements for FEIC in the US as I understand them (outside of the country for >330 days)
5. Up until the day before I left I was employed by a company in the US. I will collect a couple paychecks from them this month.

Who gets my 2020 tax money? Genuinely trying to understand my tax obligations and not trying to be shady/evade taxes.
I also donโ€™t anticipate spending much, if any, time in the UK this year
jmnavklotoii Are you a resident of the UK or US?
If you are out of the US for >330 days you can pass the Physical Presence Test for FEIE
The safe option is to get personal tax residency elsewhere and pay tax there
E.g. Panama
Potentially can not pay anywhere but information on whether that works is controversial. I'm trying it now, but am not American..
Actually, since the US doesn't have the concept of tax residency, you might not need a tax residency at all
iirc the FEIE just saves you from paying tax on the first 100k of income per year. So you're still paying taxes to the US, just with a discount applied
I am
Been stable in the UK for 3yrs, but that will change Jan. 27
When I left Canada to live in the UK after an acquisition, I went through a list of 15 accounting firms recommended by the CRA. 3 (literally 3) even responded to my inquiry. One advised me based on a deprecated version of the Canada-UK treaty and said I would be double taxed on the acquisition of my company. One didnโ€™t know what a deemed disposal was and advised that I would be taxed as having earned the cash value of the acquisition as regular income, and another wouldnโ€™t advise me when they learned my acquisition was less than $10m.
I had a great accountant firm for a while, until they nicely fired me for being too small as they are โ€œfocusing on startupsโ€ and โ€œcompanies with revenue over $500kโ€. They were all remote too, most of the time in Canada though, but some travelled.
rfnwoms whatโ€™s your actual question?
Thanks for the info UJEPJL5GQ.br />
<@U04CD3CGH> my question is if anyone here is able to recommend an experienced Canadian tax consultant who is familiar with the nomad lifestyle and tax implications.
Iโ€™m not a tax consultant nor a lawyer.

But my understanding is that unless you become a โ€œnon resident for tax purposesโ€, you must file taxes as if you are physically present in Canada.

Once you become a โ€œnon resident for tax purposesโ€ you are no longer obligated to file taxes in Canada.

To become โ€œnon resident for tax purposesโ€ you first must become a tax resident somewhere else and sever ties with Canada.

There isnโ€™t a hard rule as to what that means to sever ties unfortunately. CRA is probably intentionally keeping it vague. But itโ€™s things like bank accounts, property, close relatives (spouse, kids), cars, memberships, etc.

You can read more here:

Thanks vjsmlady I appreciate the help. I'm aware of all of the implications and requirements to become a non-resident.

I will still be filing my Canadian taxes. For now I just need someone who can provide the best advise in terms of what province to choose to establish my Canadian residency (I don't even have an address in Canada any longer), which expenses I can deduct, if it's better to be incorporated due to my current situation (and in which country), etc.
rrsrnkp please stop starting new threads when there's no other topics going on.. so basically to answer the question you asked in the last thread, you might be interested in ontario because there's a "remote worker" provision with OHIP which lets you keep healthcare while travelling.. but i think it takes 2-3 months to establish residency in any province
What happened U03FHDBMD?
Are you pro or anti threads then?
Iโ€™m not anti threads, I start threads too, but not on the most recent messages in a channel, itโ€™s better to keep convo in channel and visible.. threads are good for going off topic though
But itโ€™s also okay to go off topic in the channel too
Thatโ€™s an entirely new thread-osiphy (for me) ๐Ÿค“
Iโ€™m pro threads along with a few other behaviors to keep communication effective... I find it super difficult to follow multiple, intertwined discussions
But not on the most recent messages in a channel, unless they are wildly disparate topic wise.. and still not on the very most recent message anyways..
Forcing everyone else to click through to view the thread is annoying
So less readers and participants in a thread chat vs the channel chat
Another thing I donโ€™t like is ppl starting threads on their own messages, thatโ€™s laziness ๐Ÿ˜‚
Not many ppl do that
Thatโ€™s specifically how I encourage others to use threads... by starting it myself ๐Ÿ˜†
Setup a secondary home base
rjylxmltfhbvkdv i'm curious. which passport, 1st base, 2nd base, how long for each ?
fi passport, primary residency in th for the past 4 years, rented a place in fi as 2nd base, why it got complicated is another question which too complicated to answer here
Does anyone have a recommendation for a German tax accountant? Even though I am from Berlin I don't know any.
Does anyone have any experience with Thai taxes? my gf was offered a Thai contract with a 80k baht/month salary. Trying to figure out her annual tax rate but getting inconclusive results from online calculators. Getting a result of 15% which seems too low
i think 15% sounds about right, but perhaps xmzkljyxshmgmzyp would know
fcmjxlxma my understanding thai tax is pretty low, 15-25% anyways
That's good to know, thanks! Didn't want to blindly trust it because I don't know anything about Thai taxes
aquaeoqco IGLU has a minimum of $2500/mo income requirement and charges $700/mo for that, which includes the taxes and their overhead, I heard their overhead is about $200 of that, so the remaining $500 goes to taxes perhaps.. so that's like $500/$2500 = 20% .. it does seem a bit low for sure
hopefully i'm not completely wrong ๐Ÿ˜‰
so basically it's an umbrella corp to pay yourself in thailand so you have employement visa.. you funnel $2500/mo towards that corp, and then get $1,800/mo deposited to your thai bank account I assume
Thai income tax is bracketed
Anybody familiar with what's involved in moving my tax residency from Germany back to the US? (I'm a US citizen who's been living in Germany for the past 8 years...). Any points / tips would be super appreciated! ๐Ÿ™‚
I would take a look here if you know German www.facebook.com/groups/906274769393425 Very useful group
This is probably going to cost you in terms of "exit taxes"
I've asked about experiences of foreigners with US LLCs here some time ago. Getting started went super smooth for me.
Got TransferWise, real bank account with Mercury all in a couple of days ๐Ÿ‘Œ
All without even a proof of my personal address ๐Ÿคฏ
How did you do it?
Some service or by yourself?
With the registered agent I'm using. It's so cheap DIY is not even worth it.
Stripe Atlas?
or by agent you mean an actual person ๐Ÿ˜›
Doesn't have to be a person, usually a business. I've used them www.northwestregisteredagent.com/
Very decent prices
yqxamiulybrku so you got an LLC instead of an S corp?
yes, for the 0% taxes
suhkcrqpbtvel what state?
i guess wyoming or delware are good ones
I've used Florida, easy to go there in person if I want, cheap per year.
New Mexico was interesting too. Even cheaper and can be anonymous, which isn't really an advantage for my freelancing LLC.
Florida was trending last year I heard, maybe still is
Good LLC states apparently change quite often. Although that's of course also a notion that a newsletter with such information would like to create, so maybe things don't actually change much at all
Yes, it's a popular choice at the moment. Based on my research the differences between the most common states aren't much for my use case (non-resident founder, no business in the US...).
0% taxes on LLC, meaning electing s-Corp taxation on LLC? ofhczybmjujfj
gqzlnoocwgnao I was reading about the "no business in the US" bit and it's a bit confusing, some state that no business means not having any employees there nor contractinng any agencies etc there, but others also include selling there, as in end customers. So, if you have a product selling to US customers do you interpret you "have business in the US" ? I guess I'll need to get in touch with a professional on this one!
Not sure if that would work with S-Corp onlinetaxman.com/us-llc-tax-haven-for-foreigners/
czerebr Selling to US customers should be fine too. But I don't have any anyway.
For US citizens who have set up residency/taxation elsewhere, where is a good place to look up the broad rules around keeping the IRS from considering you taxable? For example, limits on the number of days you can visit the US, assets you can have in the US, etc.?
Awesome, thanks
hhaqafeucjccdzlq you may have more answers in #_taxes-us
hey everyone, does anyone have a contact for a reliable UK accountant?
Try looking in contractor uk website . They have lists for accountants that are used to a freelance lifestyle
USD โ”€ $

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