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Expats watch out !

Expats watch out !

HMRC are consulting on plans to prevent non-residents continuing to claim a UK personal allowance.

The personal allowance has been gradually increased over recent years and is now worth £10,000 per person. Under the current regime, provided you are a citizen of the EEA, you are able to claim this allowance to offset against UK source income.

Under the proposals only UK residents & those living overseas who have ‘strong economic connections’ to the UK will be able to claim. As yet no definition of these terms has been released.

The proposal is likely to have implications for expats living overseas who have UK rental properties and / or UK source pension income. Watch this space for further details.

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