Declaring dividends on self assesment?

Randvegeta

jennifernil wrote: »

I am not up on all the "ins and outs" of tax, but as I understand it, you can pay into an ISA while you are living in UK. Once you leave UK you cannot add to it, but you can keep existing ISA(s).

Anything ISA is NOT entered on anyones tax return, so after you leave you would not need to declare it, so no tax return needed IMHO.

I have checked this out. You need not give up your ISA upon leaving the country, but you cannot pay into it if you are no longer resident in the UK.

the question I have is for investments that are not ISA wrapped. Do you have to declare non ISA wrapped investments if you are not resident?

jennifernil

I was just confirming your thoughts on the ISA part.

For shares outside an ISA, dividends are already taxed, and if you are not resident for tax purposes, I cannot see that you would be liable to pay any more tax here. Nor can I see why you would need to complete a tax return here, but as I said, I am not up on all this.

Spend a few of your pounds and ask an expert!

The tax people where you would be resident may however be interested in the dividends from your UK shareholdings?

Randvegeta

jennifernil wrote: »

I was just confirming your thoughts on the ISA part.

For shares outside an ISA, dividends are already taxed, and if you are not resident for tax purposes, I cannot see that you would be liable to pay any more tax here. Nor can I see why you would need to complete a tax return here, but as I said, I am not up on all this.

Spend a few of your pounds and ask an expert!

The tax people where you would be resident may however be interested in the dividends from your UK shareholdings?

I guess I will have to check up with an expert.. as with my other thread.

As for declaration of dividend payments, this is not required in the country of which I PLAN to be permanently resident. Where I come from, dividend payments are not taxable, neither is foreign income for services rendered outside of the country. So I could live there 364 days a year, work for 1 day somewhere else, make £100,000 (or equiv) and pay 0 TAX on it.

Now that's a good system

le_loup

Only if you don't want any public services!
Police, fire, health, military, roads, social services, education ....
Seem that you like all those but don't want to pay.
If you are part of society then you should contribute.
You sound like a Tea Party nutter.

Randvegeta

le_loup wrote: »

Only if you don't want any public services!
Police, fire, health, military, roads, social services, education ....
Seem that you like all those but don't want to pay.
If you are part of society then you should contribute.
You sound like a Tea Party nutter.

Where I come from, the following are provided by our very generous government:

- Health Care
- Education
- Police
- Fire
- Effective and CHEAP public transport
- TAX Free Allowance of over £8,000 /yr
- Social Welfare (but limited. not so generous like here)
- Free public broadcast television

I can tell you that the infrastructure is vastly superior, in just about every way you can possibly imagine.

And to top it all off, we enjoy higher disposable income, lower taxes, superior standard of living, longer life expectancy, an economy that ACTUALLY GROWS, less than 5% unemployment and my favourite, a current account surplus. According to the IMF, my country has a national debt of just 0.7%. In fact, the government has SOO much money, they have just given back £500 to all citizens :-).

Oh and it's not one of those silly oil nations. This is real wealth.


I sit here wondering why in the UK, cost of living is higher (generally), poverty level is high, unemployment is high, while TAX is HIGH!

I'm all for society. But the UK is screwed up. I blame the Labour Government for putting us in this mess, but I'll be damned if I let it stop me from making a decent living!

MacMickster

Would you care to share which country you are referring to, whose government is able to pay for these fantastic public services without funding this by taxing its citizens. Our government may be able to learn an economic lesson, as taxation is the only source of funding available to them.

Randvegeta

MacMickster wrote: »

Would you care to share which country you are referring to, whose government is able to pay for these fantastic public services without funding this by taxing its citizens. Our government may be able to learn an economic lesson, as taxation is the only source of funding available to them.

I'll leave that for you to figure it out for yourself.

Of course in my country, the government earns alot (if not all) of its revenue from TAX. The TAX is simply lower. Geographically it's quite small which allow money to be invested more wisely and efficiently.

I believe a lot of the savings come from the fact that the social welfare system is somewhat 'sub par'. But I like it that way. It probably accounts for the low unemployment rate. Living off social welfare sucks where I come from. You quite literally can't do anything.

Personally I believe the problem with this country is the generous social welfare system, whereby no good lazy layabouts can have a perfectly reasonable life style For example, I am currently choosing to live off £7000 or so per year, which affords me a similar standard of living to someone on the dole. (I'de send myself more but I dont want to pay MORE tax on it since it was TAX in my country already). That and the enormous debt. When you've got millions of people relying on welfare and hug debts, not exactly something easy to get out of. And the high taxes just make this place uncompetitive and without incentive to work.

Ark_Welder

Hong Kong.

cinderfella

Sounds a bit like Hong Kong. There are a fair number of countries in Europe with favourable taxation systems, Isle of Man for one.
My philosophy for young UK citizens is fairly simple, learn a foreign language (if need be) and vacate the UK - there are nicer countries to live. Or put another way don't be blinkered by the system.
Each to their own, but we are forever sliding down the 'desirable places to live' tables every year.
Anyway good luck where ever you choose to live.
:beer:

Just seen your post Arc Welder, you beat me to it! - Ex Commonwealth/ British Empire, looks as if we did a good job out there!!!

le_loup

Or Singapore.
We left them both pretty wealthy sates when we left.
As for all the mystery of the OP, you'd think he was pretty ashamed of his take on life.
What I don't understand is his staying away from his paradise for a single second longer than he needs ... since he's used us for his passport and education. But hey, we don't mind because he adds to the richness of our society, of which we are proud.