Tax dodge of the week: offshore accounts for expats
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Many people dream of working overseas, but you should seek financial advice “before boarding the plane”, says Emma Simon in The Sunday Telegraph. Aside from the obvious concerns – working out whether you can afford your current lifestyle where you’re going – you should be aware of the tax implications. Although the Revenue won’t be taking its cut from your monthly salary while you’re abroad, you won’t “escape HMRC’s clutches completely”. Income derived from British assets, such as property, savings accounts and shares is still taxable.
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