I think the phrase you may be thinking of is Perpetual Traveller (PT)?? This was possible a few years ago, but I haven't looked at it recently so things may have changed (probably due to 9/11 issues). The idea behind being a PT was that you wouldn't stay in any one country long enough to be resident for tax purposes, you were always classed as just visiting (ie a tourist)henry766 said:isn't it possible not be resident for tax here or anywhere else as long as your not resident here ( 190days ?) and not long enough anywhere else to be considered resident?i believe there's even a term for it which i forget)
Having been a tax exile for five years I was informed by the Inland Revenue that if I was in the UK for 90 days ormore in any one year I would be subject to UK taxation assuming I was not already paying tax anywhere else.chump said:PK,
The usual rules (there are exceptions) is that when you establish tax residency in another country you will not then be taxable here in the UK (double taxation agreement). How to establish tax residency..normally entering a country and staying for longer than 180 days in the current tax year will establish residency and bear in mind the Uk tax year Apr-Apr is pretty much the exception to the rule..most run Jan to Dec.
So logic would suggest that you could make a "base" in a no/low tax jurisdiction and then hop from one country to another always staying under the "taxation days" threshold? Your earnings would then be subject to tax in the no/low tax area only.chump said:"that you wouldn't stay in any one country long enough to be resident for tax purposes, you were always classed as just visiting (ie a tourist)"...let's be very clear this has never had a basis in law....it does however exist in wishful thinking....if you earn then you are liable to pay tax somewhere..the rules are just to determine where that somewhere is...not if there is a liability..
Well, yes; here you have a point. That's generally true. There are also many countries with no CGT and many more with CGT at around 15%. There is, however, another issue involved: in many countries (including this one, under some circumstances) if income _otherwise_ taxable only for CGT is your _sole_ income, it can become eligible for income tax instead of CGT. There are, of course, other countries (for example Malta and Latvia) in which the current CGT and income tax rates are the same anyway.henry766 said:.arn't most trading profits capitol gains and this is the easiest one to get round / reduce