Leaving the UK?

[philinlondon]

Just wondering has anyone thought about leaving the UK after these turbulent times? Well I am not saying to escape our "liability", but domicile somewhere else.

I am currently trying to set up a startup with friends, if it works I would be keen to have myself domicile in Hong Kong (I was born there so I can stay there and live there) where tax rate is only 15% flat.

My business partner will be looking at doing the whole company registration thing so we are quite agile in terms of how we should play this. At the current landscape, I would say I base myself Hong Kong but come over here a few times a yr for work where we will have an office here.

[DotasScandal]

Probably an excellent idea.

[MrsB1974]

Thoughts on leaving the UK without giving Hector a forwarding address at which to send an APN?

[creativity]

Im looking to move next year. I have done some research on this, if you want to escape from the taxman its possible but you will need to be stealthy. Im paying up then leaving as I am too easily traceable, however if you want to skip the debts you'll need to:
1) Tell no one you are leaving (other than immediate family)
2) Don't tell your neighbours you are leaving the country, give them an address in Cornwall
3) Do NOT fill in the P85 from HMRC
4) Close all accounts
5) Use a PO forwarding address and get family to retrieve post
6) Think STEALTH

Most debt cannot be legally pursued after a number of years. For example I have a debt of £318.00 from O2 from when I was a student (15 years ago), a debt collection agency has sent a letter every three months for the last six years and I just ignore it. They cannot pursue the debt so it just goes on forever, they have no recourse. The law is hazy here but I think its six years (without contact) and the debt is considered not legally enforceable, I read somewhere you should never engage because as soon as you do the debt collector can legally reengage as you have confirmed your identity.

As for HMRC debt - perhaps it runs forever? So its best they never find you, hence why you should leave no trace. Remember debt collection agencies need to sniff out you have left the country before they start requesting information from around the world. So the idea is to never let them get a sniff you have gone.

As for returning to the UK on holidays? No problem as long as you aren't working (i.e. paying/engaging HMRC). They certainly will not be holding your information at border control as you are not a criminal, luckily the system we have is too inefficient to be efficient at border control for non-criminal acts

I have heard of an Australian who racked up tens of thousands of debt with a spreadbetting company - then just returned to Australia. Its been seven years now and he still hasn't heard a squeak - and hes been back numerous times on holiday. That's a commercial debt and not an HMRC one though...

[DotasScandal]

They certainly will not be holding your information at border control as you are not a criminal, luckily the system we have is too inefficient to be efficient at border control for non-criminal acts

Wait until they make you a criminal. Problem solved.

[VisV]

They have already made tax evasion by individuals criminal , the next action would be to make tax avoidance and tax evasion are same . The usual HMRC's argument would be to look into to the spirit of law and make all tax avoidance criminal

[philinlondon]

Guys I am not saying to skip the country without settling you affairs (of which we all think is BS), but mere question whether to leave the country from a brain drain point of view.

In my perspective, if I don't get any "tax incentive" to stay, I don't see much point in staying in the UK. I rather tax reside in a more favorable country, for example you don't need to be in any scheme in HK when is 15% flat tax rate - simple!

[bandemelbs]

In my perspective, if I don't get any "tax incentive" to stay, I don't see much point in staying in the UK. I rather tax reside in a more favorable country, for example you don't need to be in any scheme in HK when is 15% flat tax rate - simple!

This ^^^

[MrsB1974]

Sorry Phil - didn't mean to hijack your thread - I was just curious to hear opinions from others who have / had the opportunity to leave the UK for good.

[philinlondon]

Sorry Phil - didn't mean to hijack your thread - I was just curious to hear opinions from others who have / had the opportunity to leave the UK for good.

No probs.. I am just merely making sure I've conveyed my question/point across.