Tax haven emigration?

[SanMiguel]

Is there a place I can emigrate to in Europe but keep UK resident status for tax?
I'm currently trading a range of financial products professionally, 1 of which is tax free (spread trading) and I would obviously like to keep the tax free status for which I need to be resident in the UK.
Is Gibraltar a possibility or is it separate from the EU?
Otherwise I would need to return to the UK for 6 months per year I assume.

 

[spreader_legger]

Don't you need to live in the UK for a set period of time during the year to be considered a resident?
Similarly, I assume that you would be liable for taxes given your location of residence.

 

[SanMiguel]

Don't you need to live in the UK for a set period of time during the year to be considered a resident?
Similarly, I assume that you would be liable for taxes given your location of residence.

Yes but equally you can also spread bet when not UK resident.
The tax free bit applies to UK only residents. However, there are places where it could be classed as capital gains and you might only pay 10-15% tax. Equally, there are some places that are tax free whatever but not sure about the status of those places with regards to residency, etc. (eg Gibraltar / Spain). Wondering if anyone on here had done something similar.

 

[Hittfeld]

Brit or not, the tax rules within the EU are almost identical: You are taxed, where your primary residence is, with all your worldwide income (check double taxation treaties) AND you are to pay all other local dues ( including social securitiy, health insurance...) which might differ considerably from the UK.
Most people prefer travelling just the opposite route: Go to the UK, leave your money off-shore, fund your foreign broker from these, route money you want to draw through another account into the UK, pay UK tax on these (taxation based on consumption). And sidemoney from sreadbetting.

Have I got it wrong?

regards

Hittfeld

 

[SanMiguel]

Brit or not, the tax rules within the EU are almost identical: You are taxed, where your primary residence is, with all your worldwide income (check double taxation treaties) AND you are to pay all other local dues ( including social securitiy, health insurance...) which might differ considerably from the UK.
Most people prefer travelling just the opposite route: Go to the UK, leave your money off-shore, fund your foreign broker from these, route money you want to draw through another account into the UK, pay UK tax on these (taxation based on consumption). And sidemoney from sreadbetting.

Have I got it wrong?

regards

Hittfeld

So, is offshoring a possible route if wanting to live in another country in Europe?
Any money taken out of the offshore account becomes taxable so that's just your day t day uses, flat rental, food, etc.
But how do you ever get hold of the offshored money and not be taxed on it? As soon as you withdraw any of it into the country you are living in, it is taxed.

 

[Hittfeld]

No, you got me wrong: For a FOREIGNER moving to the UK it is possible to hold offshore accounts (which earn) that are not subject to british taxation, for residents of EU countries on the continent its different most of the time. Their residents are liable taxwise with their world income, but in some countries the actual taxation tariff is low or flat (like NL, I, SK, baltic states).

Regards

HIttfeld

 

[SanMiguel]

No, you got me wrong: For a FOREIGNER moving to the UK it is possible to hold offshore accounts (which earn) that are not subject to british taxation, for residents of EU countries on the continent its different most of the time. Their residents are liable taxwise with their world income, but in some countries the actual taxation tariff is low or flat (like NL, I, SK, baltic states).

Regards

HIttfeld

Surely, an offshore account is not subject to tax at all as it is held in a place where there is no tax.
Doesn't the same apply to Swiss bank accounts?

 

[Hittfeld]

Any account that is located outside of the depositors country of residence is an offshore account - not neccessarily only such in "tax-havens". So if you have a brokers account in german tax-hell, you are not taxed there on the capital gains. And any foreigner with such an account won`t be taxed on these - if he moves to the UK and gets this tax agreement. But if he moves to France or even Switzerland - his gains on this german account would be subject to french or swiss tax declaration.

Swiss bank accounts are Not tax free. But with all this you should not mix bank accounts ( interest bearing) and brokerage accounts (trading profits and capital gains).

Hittfeld

 

[SanMiguel]

Any account that is located outside of the depositors country of residence is an offshore account - not neccessarily only such in "tax-havens". So if you have a brokers account in german tax-hell, you are not taxed there on the capital gains. And any foreigner with such an account won`t be taxed on these - if he moves to the UK and gets this tax agreement. But if he moves to France or even Switzerland - his gains on this german account would be subject to french or swiss tax declaration.

Swiss bank accounts are Not tax free. But with all this you should not mix bank accounts ( interest bearing) and brokerage accounts (trading profits and capital gains).

Hittfeld

But there are offshore accounts that are not subject to tax and then you can live anywhere?
Alternative it to move somewhere where there is no CGT but whether they tax you on your main source of income is a question there. Gibraltar has no CGT, Italy 10% apparently, etc.
Malta