Pros and Cons of working outside UK - your thoughts?
Terry FirmerMember for 20 years 2 months
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Dear All,
I have a reasonable amount of planning experience and I am thinking about starting my own Ltd company and working abroad to build up a ’nest egg’.
What I would like to know about would be things like the tax position for a UK based Ltd co. working abroad - would it better to be a permy over their? What is or is not included in the package ie accommadation, flights etc, etc. Finally any gotchas as far as what to do and what not to do - in general.
Many thanks in advance.
Terry
I have a reasonable amount of planning experience and I am thinking about starting my own Ltd company and working abroad to build up a ’nest egg’.
What I would like to know about would be things like the tax position for a UK based Ltd co. working abroad - would it better to be a permy over their? What is or is not included in the package ie accommadation, flights etc, etc. Finally any gotchas as far as what to do and what not to do - in general.
Many thanks in advance.
Terry
1 reply
Oldest first- 0Andrew Pearce ·Terry,
Not an easy one to answer, it all depends on the project and available opportunities.
Important points to consider when choosing overseas posting
1. Stability of employer & security of payment, get paid in hard currency
2. Remember to "qualify" for UK tax free status you must be out of UK for whole tax year.
3. Investigate local conditions, expat websites are better than tourist sites! speak to expat employees if possible
4. Get employer to provide fully furnished accommodation of a suitable standard.
5. Get employer to provide transport & fuel
6. Check number of flights included and holiday allowance.
7. Consider what you are going to do when not working! Generally exotic locations can be expensive on R & R.
THe golden rule must be do your homework and be prepared for the unexpected. Oh and dont trust the HR dept!
. Get employer to provide suitable accommodation
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