pm04sss Posted January 31, 2016 Share Posted January 31, 2016 My wife and I are slowly setting up to going to Aus for the next 3 years in a few months. We'll both be working out there full time in a company that is supporting us to come over and 'try it' with a view to considering living there permanently. I'm just trying to figure out some of the nitty-gritty if we stay or decide to come back. If we do come back to the UK 3 years later and we will have amassed a good amount of savings - would we be liable to pay tax on it if we come back to the UK? ie. If we put worked and saved $50,000 (max) / year for three years (post tax of course) and then moved the money back over with us would it be classed as an income, a capital gain or will we need to pay some form of tax on it? Thanks for any help! Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted February 6, 2016 Share Posted February 6, 2016 Hi @pm04ss Sorry we missed your thread, I have moved it to money and finance and hopefully someone can help. I wouldn't think you would pay tax on it as you will have paid tax here already Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted February 6, 2016 Share Posted February 6, 2016 My wife and I are slowly setting up to going to Aus for the next 3 years in a few months. We'll both be working out there full time in a company that is supporting us to come over and 'try it' with a view to considering living there permanently. I'm just trying to figure out some of the nitty-gritty if we stay or decide to come back. If we do come back to the UK 3 years later and we will have amassed a good amount of savings - would we be liable to pay tax on it if we come back to the UK? ie. If we put worked and saved $50,000 (max) / year for three years (post tax of course) and then moved the money back over with us would it be classed as an income, a capital gain or will we need to pay some form of tax on it? Thanks for any help! No, you won't. You are not taxed when you move your savings with you. Quote Link to comment Share on other sites More sharing options...
pm04sss Posted February 7, 2016 Author Share Posted February 7, 2016 Oh that's really helpful to know thank you! Well we'll just have to see how much we can save and hopeful Aus is as wonderful for us as it seems and we don't even need to move back! Looking forward to the sunshine... Quote Link to comment Share on other sites More sharing options...
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