lon.deg
-
RE: Split year treatment
Amazing, thank so much for the help! -
RE: Split year treatment
Hi HMRC, Thank you so much for the answers. I just have one last question regarding my initial first one: I completed this check online (https://www.gov.uk/browse/tax/self-assessment) and it told me I don't have to send a self assessment tax return - is that sufficient to decide I won't need to send one in the case of leaving the UK neither? Thank you! -
RE: Split year treatment
Hello HMRC, I will be moving from the UK to Italy - I am an EU citizen with UK Settled Status - in October 2022, I have been in the UK for over 6 years, always been employed full time and qualify as a UK Tax resident during this tax year. In October I will resign from my job in the UK, where I pay my taxes etc via PAYE, officially move to Italy and start a new contract there, with no time off in between. In the UK Tax year of 2023/2024 I will no longer be a UK resident. Based on the RDRM12000 manual I should qualify for Case 1 of the Split Year Treatment and based on your reply to Giovanni above I understand that completing the P85 should be sufficient to do so. My questions are: 1. Am I correct in understanding that the P85 suffices to apply for the Split Year Treatment and I do not need to submit a Self Assessment? 2. During the second part of the Split Tax Year, where I will be in Italy working for an Italian employer, will I be due any UK income tax? For example if the amount of income tax I would pay in Italy would be lower than it would have been in the UK? 3. Any over- or underpayment of Income tax for the (split) tax year 2022/2023, will that be calculated as normal? (relating to your answer provided to Keikoo above; if my annual income was £50k, but my effective income in the UK part of the Split tax year is only £25k, would my tax band be adjusted down retrospectively and would I therefore be due a tax refund?) Thank you very much in advance for your help!