CGT & Income taxes for expats
Discussion
I’ll take advice on this but thought I would see if there was any knowledge here.
I’m thinking about moving to Singapore soon, or possibly Dubai in a less likely scenario.
Later this year I’ll also be selling a UK based business.
I understand I can avoid CGT completely in my two target countries if I can demonstrate a clean break with the UK ideally before the new tax year starts in April?
I’ll then have to pay the CGT if and only if I move back within 5 years?
Any income tax and bonuses earnt in my new country will be outside of the clutches of HMRC even if I go home after say a year?
The motivation for the move isn’t tax reduction, just seeing better options in my field and have no real ties to the UK.
I’m thinking about moving to Singapore soon, or possibly Dubai in a less likely scenario.
Later this year I’ll also be selling a UK based business.
I understand I can avoid CGT completely in my two target countries if I can demonstrate a clean break with the UK ideally before the new tax year starts in April?
I’ll then have to pay the CGT if and only if I move back within 5 years?
Any income tax and bonuses earnt in my new country will be outside of the clutches of HMRC even if I go home after say a year?
The motivation for the move isn’t tax reduction, just seeing better options in my field and have no real ties to the UK.
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