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Savings for non residents

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  • alphason
    alphason Posts: 181 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    From what I understand I am only liable to pay tax on money I bring into the country.

    Besides that the personal allowance is 30,000b (450GBP) and the first 40% (or 40,000 b max) of employment income is deductable

    Tax bands for assessable income are 0-150k b 0%, 150-500k b 10%, 500k-1m b 20%, 1mb -4mb 30%.

    I have read that income from sources other than employment is calculated as assessable income x 0.5% = taxable income.

    :confused:maybe I really need to fork out for some professional advice?
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