Eject Strategy

[beermeister]

Been in UK for 4 years doing permie roles, recently started contracting with Ltd Co., planning to go back to NZ mid next year and keep contracting; probably for good.

Ideas I have:

- while contracting in UK, pay myself, say £4900 salary per annum - just enough to stay under any tax/NI threshold and not have HMRC sniffing around; state pension won't be worth much to me anyway
- retain as much money in the company as I can while contracting in UK
- when it's time to relocate to my next contract in NZ, use up my £8K tax free limit for company paid relocation expenses
- once relocated and out of the country, wind up the company and issue funds as capital gain and start a new NZ company

Anyone got any comments on this?

Want to keep it legal.

[EqualOpportunities]

Been in UK for 4 years doing permie roles, recently started contracting with Ltd Co., planning to go back to NZ mid next year and keep contracting; probably for good.

Ideas I have:

- while contracting in UK, pay myself, say £4900 salary per annum - just enough to stay under any tax/NI threshold and not have HMRC sniffing around; state pension won't be worth much to me anyway
- retain as much money in the company as I can while contracting in UK
- when it's time to relocate to my next contract in NZ, use up my £8K tax free limit for company paid relocation expenses
- once relocated and out of the country, wind up the company and issue funds as capital gain and start a new NZ company

Anyone got any comments on this?

Want to keep it legal.

Right - open a company, make up a vat number...

File dormant accounts, take everything, wind the up.

Flee the country.

HTH

[max]

Been in UK for 4 years doing permie roles, recently started contracting with Ltd Co., planning to go back to NZ mid next year and keep contracting; probably for good.

Ideas I have:

- while contracting in UK, pay myself, say £4900 salary per annum - just enough to stay under any tax/NI threshold and not have HMRC sniffing around; state pension won't be worth much to me anyway
- retain as much money in the company as I can while contracting in UK
- when it's time to relocate to my next contract in NZ, use up my £8K tax free limit for company paid relocation expenses
- once relocated and out of the country, wind up the company and issue funds as capital gain and start a new NZ company

Anyone got any comments on this?

Want to keep it legal.

Speak with an accountant...perhaps one that is familar with NZ tax law.

You can "contract out" your state pension, and then simply move it to NZ when you leave. I think(check with the account) you can take is as cash immediately, rather than waiting for 55. If you also get your company to pay you a pension this could also be moved, with current yearly limit of 200k+, could be quite lucrative for you.

Bet you're kicking yourself for not going contracting 4 years ago!