How to pay less tax
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How to pay less tax
Has anyone got any advice on how a UK based long haul pilot can pay less tax? Are there countries you could realistically move to to gain a tax advantage and what is the tax benefit of doing so? Preferably somewhere sunny and with a beach! Not asking too much am I!?!?
Any hints and advice would be most welcome!
PS. I know that the desert offers a good tax benefit but I don't think I am willing to sacrifice my friends and family for money just yet!!!
Any hints and advice would be most welcome!
PS. I know that the desert offers a good tax benefit but I don't think I am willing to sacrifice my friends and family for money just yet!!!
Careful
Cyprus is definitely NOT 5% income tax.
It's somewhere between 25-33%. Now if you are a pensioner then the tax on your pension is 5%. The devil is (always) in the detail. Just make sure that you're paid in € if you're thinking of living anywhere in the EU. Stg£ has lost 35% of value against the € recently so add in even 5% and there's not much point in moving.
It's somewhere between 25-33%. Now if you are a pensioner then the tax on your pension is 5%. The devil is (always) in the detail. Just make sure that you're paid in € if you're thinking of living anywhere in the EU. Stg£ has lost 35% of value against the € recently so add in even 5% and there's not much point in moving.
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you can also swap your longhaul job with my shorthaul job, and icing on the cake, you'll be able to enjoy your home sweet home every night. Feel free to pm me any time. 
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You could always get a second home and claim expenses for it. Your local MP will be able to advise
I am an airline pilot employed on a PAYE basis. I am also self employed in my own business outside of aviation which just happens to be located at my airline base. All commuting/accommodation expenses from my home to airline base get buried in my self assessment tax returns. It works for me.
Suggest you find a good accountant, they are worth their salt.
I am an airline pilot employed on a PAYE basis. I am also self employed in my own business outside of aviation which just happens to be located at my airline base. All commuting/accommodation expenses from my home to airline base get buried in my self assessment tax returns. It works for me.
Suggest you find a good accountant, they are worth their salt.
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If tax is as you say in Cyprus, why were /are so many SIA pilots living there and commuting ? When I was in SIA tax was not that demanding in Singapore, and it cant be that easy to commute from Sin to Lca.
The Cypriot tax agreement in available on line.Why not look it up and then you will know for sure. AFAIK, 5% is for pensioners only. I gather some individuals have "retired" to Cyprus in the past, but worked for another company on the quiet, only paying income tax on their earned income. Sounds dodgy to me.
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Pay less tax
Bigjarv
Why do you want to pay less tax? You become no better than a claims benefit fraudster who can afford an accountant. It just means that the rest of the community has to pay more tax to make up for yours.
Nobody likes to pay tax but it is a necessary burden, Go on pay 5% tax and when you are in the UK and get trashed by a passing car have a label around your neck to tell the ambulance driver to skip your pick up as you have not paid your fair share. I would not take this attitude if you were preared to pay the rest of your tax to another regime but I do not think that this is quite your idea
Why do you want to pay less tax? You become no better than a claims benefit fraudster who can afford an accountant. It just means that the rest of the community has to pay more tax to make up for yours.
Nobody likes to pay tax but it is a necessary burden, Go on pay 5% tax and when you are in the UK and get trashed by a passing car have a label around your neck to tell the ambulance driver to skip your pick up as you have not paid your fair share. I would not take this attitude if you were preared to pay the rest of your tax to another regime but I do not think that this is quite your idea
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I dont think people would mind paying a fair tax that was utilised efficiently.
When I see young people giving up work because they get paid more in benefits I wonder about our system.
When I see young people giving up work because they get paid more in benefits I wonder about our system.
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Itsa Job
I think most people would agree with your sentements, but our profession is supposed to be just that.......professional. As a professional, one is assumed to have a modicum of education and common sense and, as such, it is fairly easy to deduce that the country would function even worse if everybody paid only 5% tax. This deduction is not made or cared about by a lot of the population and I would not want to be classified in that category. If people want to leave the UK for good and live in a lower tax regime, fine, but expecting to benefit from lower tax somewhere else and still expecting the benefits of free education, NHS, ambualnce service etc when they spend time in the UK appears, at the very least, selfish.
I think most people would agree with your sentements, but our profession is supposed to be just that.......professional. As a professional, one is assumed to have a modicum of education and common sense and, as such, it is fairly easy to deduce that the country would function even worse if everybody paid only 5% tax. This deduction is not made or cared about by a lot of the population and I would not want to be classified in that category. If people want to leave the UK for good and live in a lower tax regime, fine, but expecting to benefit from lower tax somewhere else and still expecting the benefits of free education, NHS, ambualnce service etc when they spend time in the UK appears, at the very least, selfish.
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Hey guys! Thanks for all your help and advice! I don't mind paying tax else where. I've no intention of being illegal but I'm just trying to find a good life where I get value for money out of my tax! The UK is very good and our tax provides a great safety net for almost everyone (something to be proud of?), but I have to say I would prefer to live in a society with better values and quality of life. Please don't come with all this honor stuff thou! We live in a capitalist system. If there is a fault or loop hole in the system it will be used, and it goes both ways. Tax payer to government and government to tax payer! Everyone is on the make unfortunately. It's what the system breeds.
I think that days of dodging tax as a pilot are long gone anyway! I'm about 10 years too late! Technology seems to have put a stop to all that! I'm still just looking for that happy medium so all tips are very welcome!
PS. I have BUPA!!! Whoa there big fella!! Easy tiger!!! I'm just kidding!!!
I think that days of dodging tax as a pilot are long gone anyway! I'm about 10 years too late! Technology seems to have put a stop to all that! I'm still just looking for that happy medium so all tips are very welcome!
PS. I have BUPA!!! Whoa there big fella!! Easy tiger!!! I'm just kidding!!!
Last edited by bigjarv; 16th Apr 2009 at 00:18.
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Hawker I can understand bigjarv's comments... A tax system that increases the liabilty with the income, which in most people's case is linked to hard work and achievement is not a million miles from communism....
I'd be interested to know the answer too.
With the average wage of a UK Taxpayer around the 20k mark is it any wonder that some of us professionals begrudge paying for the other half.
I have private healthcare also, and a gas guzzling car, so pay a huge amount of tax already. Had enuf'
I'd be interested to know the answer too.
With the average wage of a UK Taxpayer around the 20k mark is it any wonder that some of us professionals begrudge paying for the other half.
I have private healthcare also, and a gas guzzling car, so pay a huge amount of tax already. Had enuf'