PPRuNe Forums - View Single Post - EK: is the potential tax liability too great for US pilots?
Old 2nd Apr 2014, 05:23
  #25 (permalink)  
TheDarkHorse
 
Join Date: Oct 2013
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Just been told that Uncle Sam and UAE Central Bank are in bed together. FATCA is the reason? I am glad I have a unicorn on my passport.

Twenty - You're correct to a degree, it is a grey area as are many legalities in the U.K. I know I read law. They have a definition of just how tied to the U.K you are. If you own a property you can rent it out and not be deemed a resident, if you hold a UAE visa you are non dom for U.K. I have 2 houses both of which family live in (Grandmother + Uncle) and I'm joint on the deeds but I'm not deemed resident. I have a U.K account and credit card still, but provided I'm not earning and don't go use NHS every day HMRC have no issues.
All money earned overseas however IS tax free provided you are not resident. So if I take 1m USD back to the U.K which was earned overseas then I keep my 1m USD (as an example to make a point)
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