living in another country but still doing the day job

[thebookiesoffers]

been floating the idea around for a while about upping sticks and moving to sunnier parts for a year (probably Caribbean somewhere).

would there be any issues with gambling incomes and things like that? would I need a work permit or could i keep it as a UK business and keep the money in a UK bank and pay uk tax etc.

any ideas or info would be really welcome

[baldidiot]

Are you classified as self employed or do you have a ltd company in the uk?

[Maria F]

Cyprus is a good place to live; there are lots of gaming companies here. I work as an affiliate manager, so I am not sure the taxes you would have to pay but for sure they would be less than the taxes you have to pay in the UK.

[Voids]

If you incorporated a company in the UK you would still be liable to pay corporation tax as it is a seperate legal entity, you being an employee of that company. If your a sole trader your income will be taxed at the rates of the country you move to. (Generally)

[SlotsAff]

I would suggest you go and see a tax advisor and find out what you should do - sounds great moving to the Caribbean for a year!

[thebookiesoffers]

Are you classified as self employed or do you have a ltd company in the uk?

self employed mate, looking at Barbados if I can pull it off

[baldidiot]

self employed mate, looking at Barbados if I can pull it off

In which case I think that if you were planning to move to barbados for a year you might need to file there. If you had a ltd company you would pay corporation tax in the uk, then take your profit as a dividend - which you would probably have to declare in the country you're living in.

What kind of visa would you be going under? This is probably the pivotal factor in how and where you pay taxes.

Other thing you could do is move around on tourist visas - < 3 months in each place etc.. If you do it right you might be able to get away without paying any taxes at all, unless the UK has a claim to your taxes if you don't file anywhere else? Not sure about this last bit.

Cool idea though - if I wasn't married (or if the wife was up for it and not needing to stay in one place) I'd totally consider spending a year or two travelling and working...

[thebookiesoffers]

In which case I think that if you were planning to move to barbados for a year you might need to file there. If you had a ltd company you would pay corporation tax in the uk, then take your profit as a dividend - which you would probably have to declare in the country you're living in.

What kind of visa would you be going under? This is probably the pivotal factor in how and where you pay taxes.

Other thing you could do is move around on tourist visas - < 3 months in each place etc.. If you do it right you might be able to get away without paying any taxes at all, unless the UK has a claim to your taxes if you don't file anywhere else? Not sure about this last bit.

Cool idea though - if I wasn't married (or if the wife was up for it and not needing to stay in one place) I'd totally consider spending a year or two travelling and working...

i haven't told my wife the plan yet lol but she should be sound with it.

only problem i'll have is i'll have to stay in one place because of my dog, can't have my best mate stuck in quarantine all the time

[ocreditor]

I can't give you much advice about the tax situation but want to wish you all the best - I admire the adventurous spirit

[Gabriel_LCP]

I say do it!! Talk with a tax advisor or an accountant so they can give you the best advice for it. Im sure every country has a different way of dealing with these stuff so I think you should establish which country fits you best... But nonetheless you should take advantage of those relaxing summers abroad!! Best of luck to you!

[TravG]

Good luck im envious! I've floating the idea around myself so this thread is good to see the responses on taxes.

[FictionNet]

For those who have used companies to help with the transition to a tax-friendly country, recommendations could be of use to many here.

[lowrisk]

I would just say that if the money is going to a UK account, then you would probably be liable for UK tax on it. It shouldn't matter too much where you do it from, that's the benefit of the internet.