Will I be taxed in the UK?

Question

This is my second attempt at this question. I guess a need to be quite specific to avoid unhelpful answers like "you need to be arrested".

So, I'm Australian, and moving to the UK with a work visa that's valid for a very long time. I don't have a job as of yet, so I will be needing local access money to live on while I get set up.

I want to send myself enough money to live on for about a month while I do this, however, I'm concerned that now, as a UK resident, any money I bring into the UK will be subject to UK taxation laws.

For those of you wanting to flame me, I've already paid tax on my hard-earned money in Australia. I'm not wanting to tax-dodge in the UK. On the contrary, I believe that taxes are very important. I just want to avoid paying tax twice and losing half my money.

Can anyone clarify what will and will not be subject to tax?

Answer 1

I already replied to this question in the previous thread;

Money that is transferred from a bank *in your own name* (or just plain old cash since this could be your money too) is not subject to any form of taxation and does *not* need to be reported to HMRC.

Money sent from a third party is subject to taxation once you exceed your yearly CGT allowance (currently CGT allowance is about £8000) - this does not include your spouse; inter-spousal transfers are fully tax free.

If you are being paid money from an Australian employer to a UK account, you will want to submit this form: http://www.hmrc.gov.uk/cnr/aust-dtt.htm to HMRC to avoid double taxation.

Answer 2

I believe that you will not have to pay tax on this amount, because it is money you have already earned, albeit in another country and you would be using this money as living expenses in lieu of employment.

However, you do say you have no job to come to, so what do you propose to do if after one month, if you have not found a job?  What is your chosen profession?, have you researched the level of open vacancies in it?.  Bottom line, really you are being very optimistic by assuming you will have a job within one month.

Answer 3

no you would not be taxed on the money you bring in to the uk .i will put it an easy way say i went to australia for 3 months holiday and had lets say a thousand pounds with me  to spend then they would not tax me on this money would they enjoy your holiday

also if you work in the uk when you go back home you will be able to get a lot of the tax back that you have paid

Answer 4

If you bring in your money from anywhere  then you DO NOT pay any tax.

But if someone else makes you a gift or you get money from any other source be it from UK or from abroad then you have to declare it and you may be liable to tax subject to local allowances.

Hope this helps

Answer 5

Tax is paid on money EARNED in the UK. So you won't be taxed on what you bring in but if you stick the money in a bank account then the interest will be paid nett of tax.

You should set up a bank account before you get here and have proof of the money to show immigration.

My friend did the opposite, went to Oz for work. He used citibank, they set up the account and provided an Oz cashpoint card before he left the UK.

When you leave the UK you may be able to claim back some of the tax you have paid on earnings.