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Help regarding relocation
justinneed
Posts: 1 Newbie
in Cutting tax
Hi All. Hope this is the right place to ask this question, and that someone can help.
I currently run a small ebay business buying & selling, but am about to move abroad. I understand that I need to complete a p85 form does this replace my self assessment form for 2016-2017? Also I will have unsold stock. I'm unsure whether I'll continue to trade when I move as the benefits of doing so are getting slimmer each month for the small amount I do. My question is how do I address that unsold stock from a tax point of view? If I did carry on trading I would be paying tax on the sales in the new country, but will have offset their purchase against my tax here in the UK.
I have written to HMRC with the same question and I'm currently still awaiting an answer. Just wondered if anyone could advise. Many thanks, Dave
I currently run a small ebay business buying & selling, but am about to move abroad. I understand that I need to complete a p85 form does this replace my self assessment form for 2016-2017? Also I will have unsold stock. I'm unsure whether I'll continue to trade when I move as the benefits of doing so are getting slimmer each month for the small amount I do. My question is how do I address that unsold stock from a tax point of view? If I did carry on trading I would be paying tax on the sales in the new country, but will have offset their purchase against my tax here in the UK.
I have written to HMRC with the same question and I'm currently still awaiting an answer. Just wondered if anyone could advise. Many thanks, Dave
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