Shiraz Waheed - SetupHero
Shiraz Waheed - SetupHero
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How to Use the Split-Year Treatment When Moving Out of the UK
✅ Book 1-on-1 Call setuphero.com/call
How to Use the Split-Year Treatment When Moving Out of the UK
In this video, I explain how a tax year looks in Dubai and what you need to know if you’re living or working there.
I cover the basics of Dubai’s tax system, including how it compares to other countries and the unique aspects of Dubai’s tax year structure.
You’ll learn about Dubai’s tax policies, who is eligible for tax obligations, and how the tax year impacts residents and non-residents.
By the end of this video, you’ll have a clear understanding of Dubai’s tax year and how it affects financial planning for individuals and businesses.
✅ 𝐈𝐟 𝐲𝐨𝐮 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬 𝐯𝐢𝐝𝐞𝐨, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐥𝐢𝐤𝐞 𝐢𝐭 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞 𝐢𝐭.
✅ 𝐃𝐨𝐧'𝐭 𝐟𝐨𝐫𝐠𝐞𝐭 𝐭𝐨 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐦𝐲 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐬.
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Timestamp
00:00 - Introduction
00:02 - Common questions about leaving the UK before the tax year ends
00:36 - Why split-year treatment can help you exit UK tax earlier
01:06 - Brief break / Transition
01:10 - Overview of split-year treatment & today’s topic
01:33 - Introducing Laura Sant (LSR Partners)
02:22 - How the Statutory Residence Test works
03:06 - What split-year treatment actually means
04:16 - The three main cases for split-year treatment
05:25 - Case 1 explained: Full-time work outside the UK
07:14 - Case 2 explained: Partner of someone working full-time overseas
08:31 - Case 3 explained: Ceasing to have a UK home
10:20 - Reporting requirements & how to notify HMRC
12:18 - Comparing split-year vs. full tax-year exit
13:56 - Dividends from a UK Limited Company under split-year
16:40 - Liquidating a UK Limited Company when leaving
19:00 - Common misconceptions about split-year treatment
#paylesstaxes
#dubai
#movingtodubai
#dubaitaxes
#dubaigoldenvisa
#SetupHero
Also Discussed in this video:
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. SetupHero can and does not provide advice unless/until engaged by you
Переглядів: 73

Відео

How To Stop Paying Taxes As An Australian
Переглядів 66828 днів тому
✅ Book 1-on-1 Call setuphero.com/call 0:00 - Introduction 0:46 - Understanding Australian Tax Residency 1:09 - Steps to Break Tax Residency 2:17 - Key Residency Tests Explained 3:29 - Time Limitations and Family Ties 4:41 - Property and Business Setup Tips 5:42 - The 183-Day Rule 6:21 - Setting Up Residency in Dubai 7:11 - Securing Tax Residency Certificate 7:52 - Expert Assistance and Final Th...
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✅ Book 1-on-1 Call setuphero.com/call ✅ 𝐃𝐨𝐧'𝐭 𝐟𝐨𝐫𝐠𝐞𝐭 𝐭𝐨 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐦𝐲 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐬. ua-cam.com/channels/_5q664PQaCnbFrCqs4wRJw.html Becoming An UAE Resident With Business Back In Australia (Reality) In this video, I talk about becoming a UAE resident while still running my business in Australia. I explain the reality of relocating to Dubai, managing Australian business operations,...
10 Reasons To Invest in Dubai Real Estates in 2024
Переглядів 182Місяць тому
✅ SetupHero All Access Pass setuphero.com/VIP 10 Reasons To Invest in Dubai Real Estates in 2024 Timestamps 0:00 - Intro 0:32 - Strong Economic Growth 0:59 - Tax Free Environment 1:31 - The High Renatl Yield in Dubai 1:52 - The Freehold Ownership 2:14 - World Class Infrastructure of Dubai 2:34 - Safe and Secure Environment of Dubai 3:11 - Most Favorable Regulations for Property Investors 3:32 -...
How To Notify HMRC About Becoming UK Non-Resident
Переглядів 211Місяць тому
✅ Book 1-on-1 Call setuphero.com/call Timestamps 0:00 - Intro 0:43 - Legal Requirements and Consequences of Notifying HMRC 1:00 - Moving Outside the UK and the Importance of Notification 1:48 - Process for Notifying HMRC: Form P85 and Self-Assessment 3:30 - Filing a Tax Return and Reconciling Tax Affairs 5:20 - Alternative Ways to File and Documentation Requirements 6:47 - Other Considerations:...
Can You Benefit from Dubai’s Tax Regime in Australia?
Переглядів 1572 місяці тому
✅ Book 1-on-1 Call setuphero.com/call Can You Benefit from Dubai’s Tax Regime in Australia? In today’s video, we answer a common question: Can you set up a company in Dubai and benefit from its tax regime while remaining a tax resident in Australia? Joined by Bradley Murphy from Murphy TX, we explore the challenges and possibilities of this strategy. We discuss important tax rules like the Cent...
Top 5 European Countries For Digital Nomads in 2024
Переглядів 2112 місяці тому
✅ Relocate to Europe - setuphero.com/Europe ✅ Whatsapp Me - wa.me/ 971569251187 Top 5 European Countries For Digital Nomads in 2024 In this video I share the top 5 European countries for digital nomads in 2024. I’ll break down the best destinations in terms of quality of living, cost of living, and the visa options available for remote workers. If you’re looking to live and work in Europe as a ...
Moving To Dubai With Family? You Need To Watch This!
Переглядів 3722 місяці тому
✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/ 971569251187 Moving To Dubai With Family? You Need To Watch This! In this video, I share everything you need to know about moving to Dubai with your family. I cover the reality of relocating to Dubai as a family, from finding the right schools to securing housing and navigating the cultural differences. You'll get insights into family...
6 Reasons to LEAVE Canada and Move to Dubai Before It’s TOO LATE
Переглядів 783 місяці тому
✅ Whatsapp Me - wa.me/ 971569251187 ✅ Book 1-on-1 Call setuphero.com/call 6 Reasons to LEAVE Canada and Move to Dubai Before It’s TOO LATE In this video, I discuss the top six reasons why many entrepreneurs and business owners are choosing to leave Canada and relocate to Dubai before it’s too late. From the rising cost of living and high taxes to political issues and long wait times in the heal...
The REAL Reason Entrepreneurs Move Their Businesses to Dubai! (Reposting)
Переглядів 1154 місяці тому
✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/ 971569251187 The REAL Reason Entrepreneurs Move Their Businesses to Dubai! In today’s video, I am interviewed by Joe Butler, and we discuss why entrepreneurs and business owners are moving their businesses to Dubai. As the founder of Setup Hero and a chartered accountant with extensive experience in the UK and Dubai, I share insights ...
7 Reasons You Should NOT Move to Dubai!
Переглядів 3364 місяці тому
✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/ 971569251187 7 Reasons You Should NOT Move to Dubai! In today’s video, I cover seven reasons why someone might reconsider moving to Dubai. My goal is to provide realistic expectations to help you decide if Dubai is the right place for you. While Dubai offers many benefits, such as 0% personal taxation and high standards of living, the...
Why Moving to Dubai is Ideal for Australian Entrepreneurs!
Переглядів 19 тис.4 місяці тому
✅ Book 1-on-1 Call setuphero.com/call Timestamps: 0:00 - Intro 0:33 - Pain Points in Australia that Motivated to Change Countries 1:26 - Business and Personal Experience after Moving to Dubai 2:44 - What is the Change in Tax Benefits after Moving to Dubai 5:14 - Experience while Working with SetupHero 9:08 - Reason and Factors behind Selecting SetupHero 10:31 - Advice to Entrepreneurs in Austra...
Why Entrepreneurs Are Moving from Europe to Dubai!
Переглядів 1244 місяці тому
✅ Book 1-on-1 Call setuphero.com/call Why Entrepreneurs Are Moving from Portugal to Dubai! In today’s video, I interview Miguel, a marketing agency owner who recently moved from Portugal to Dubai. He shares his motivations for the move, including the significant tax benefits, vibrant entrepreneurial community, and travel opportunities in the region. Miguel discusses how the move has positively ...
Understanding the Non-Resident Landlord Scheme in the UK
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✅ Book 1-on-1 Call with Shiraz Waheed setuphero.com/call ✅ Book a call with Laura Sant calendly.com/laura-sant/30-minute-discovery-call Understanding the Non-Resident Landlord Scheme in the UK In today’s video, we discuss the non-resident landlord scheme in the UK for people who own homes in the UK but have moved abroad. Learn about the tax implications and responsibilities from an HMRC perspec...
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Переглядів 3305 місяців тому
✅ Book 1-on-1 Call setuphero.com/call Top Neighborhoods to Live in Dubai for Every Lifestyle If you are thinking about moving to Dubai, choosing the right neighborhood is crucial. In this video, I explore the most popular neighborhoods in Dubai to help you find the perfect place that fits your lifestyle and budget. From the bustling Dubai Marina and luxurious Downtown Dubai to the serene Arabia...
Top 5 Tips for Buying Off-Plan Property in Dubai
Переглядів 1516 місяців тому
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7 Common Myths About Living in Dubai (Debunked)
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Crypto Taxes In United Kingdom In 2024 (All You Need To Know)
Переглядів 1,3 тис.6 місяців тому
Crypto Taxes In United Kingdom In 2024 (All You Need To Know)
How To Become Australian Non-Tax Resident In 2024
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7 BEST Muslim Countries To Move From West!
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How To Buy a Property In Dubai (Mortgage Vs Off Plan Investment)
Переглядів 5117 місяців тому
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Buying Off-Plan Property in Dubai (5 Things You Must Know)
Переглядів 1,2 тис.8 місяців тому
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How To Get Dubai's 10-Year Golden Visa In 2024
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How To Avoid Getting SCAMMED When Buying A Property In Dubai
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Moving To Dubai With a Physical Business back In Your Country?
Переглядів 1698 місяців тому
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Is it Possible To Set Up A Free Zone Company WITHOUT Moving To Dubai?
Переглядів 1,3 тис.8 місяців тому
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A New Opportunity If You Want To Invest In Dubai! (BAYZ101 by Danube)
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Переглядів 2,2 тис.8 місяців тому
How Much Does a Freezone Company SETUP Cost in Dubai? (2024 Costing Guide)
Leave The UK Before It's Too Late…
Переглядів 5648 місяців тому
Leave The UK Before It's Too Late…

КОМЕНТАРІ

  • @satpreetbrar1067
    @satpreetbrar1067 5 днів тому

    Reform party for the UK 👍🏽

  • @SetupHero
    @SetupHero 7 днів тому

    ✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/+971569251187

  • @pimpshark
    @pimpshark 9 днів тому

    Your expert said you need to pay capital gains on shares as a non-resident. That is incorrect. I really wouldn’t want to be spending money with his firm.

  • @crypto7957
    @crypto7957 10 днів тому

    Thanks very much very informative 🎉😊

  • @libtekk
    @libtekk 12 днів тому

    Crypto in gambling and there should not be any tax on it.

  • @stevosd60
    @stevosd60 14 днів тому

    This cool... Make money and pay no tax, yet appeal for protection if attacked... Moan about the government yet pay nothing..... Cool eh 🙃

  • @amers247
    @amers247 19 днів тому

    Why does the uk tax people on everything, even death, and why would someone rich live in the uk

  • @baseeratali1137
    @baseeratali1137 19 днів тому

    This was a useless video...actually never told us anything useful!!!

  • @RS-xx9ve
    @RS-xx9ve 19 днів тому

    I know people who paid Nakheel the state developer TWENTY years ago. To this day, in 2024 they have still have no property, no refund, no compensation. Nakheel even made an offer in 2024 then rescinded it. They try and bully and gag and send shady looking contractswithout even promising a date of refund. Apparently 75% o off plan property is NEVER built. And the state developers like Nakheel are as bad as anyone. it is criminality, pure and simple. They pretend they have no money to build, then they build the tallest towers in the World with YOUR money. ANd people get terrorised by Dubai banks (who even mislead Interpol to terrorise you) to pay for properties that were never built and never will be. Avoid this scam capital of the World!

  • @boxster21
    @boxster21 20 днів тому

    UK Highway Robbery Department

  • @lcmr123
    @lcmr123 21 день тому

    I know with the golden visa you have the freedom to come and go without spending the usual compulsory 6 months, but If I'm coming from Australia and classed as a non tax payer of Australia, and Dubai being now my home...will the Australian government give me any problems if I decide after a month in Dubai I want to travel the world (not Australia) like Europe say?

    • @rosshilton
      @rosshilton 18 днів тому

      You will pay Australian taxes on overseas earnings IF the ATO determin you are a resident. Your residency is determined by considering all the relevant facts and circumstances. No single factor is likely to be decisive, and many will be interrelated. We may take into account any or all of the following factors in determining where you reside: period of physical presence in Australia intention or purpose of presence behaviour while in Australia family and business or employment ties maintenance and location of assets social and living arrangements.

  • @Resistcontrol-u2g
    @Resistcontrol-u2g 21 день тому

    Don't let them tax you on so-called climate change, its a massive scam... It a natural occurrence not man-made...

  • @dna9838
    @dna9838 22 дні тому

    Universal principal for people with any integrity: If you try to avoid taxes you don’t deserve to benefit from the lifestyle, community, defence, infrastructure etc. in the country that the taxes pay for. It’s a social contract.

    • @Handler9985
      @Handler9985 11 днів тому

      You cannot actually avoid taxes, as far as the UK is concerned. Yes you may pay less tax on you're earned income, but you still end up paying taxes on items you purchase. Remember a successful economy is where people are constantly spending.

    • @dna9838
      @dna9838 11 днів тому

      @Handler9985 tricky down economics really doesn't work, unless the trickle down is into the communities of monte carlo, the Cayman islands, Jersey, etc.

  • @paulcoates3860
    @paulcoates3860 22 дні тому

    Leave then !! B4 robbed with the other 10,million...don't own anything in own name in uk...stay out uk ....Sack uk...it can be done.. we don't work...we invest, we don't want a job, it doesn't pay

  • @jimih8539
    @jimih8539 22 дні тому

    Ok quick question… what if I sell my crypto but keep it on the exchange and NOT move it into a British bank? I’ve got a Coinbase debit card, so there is no requirement for me to move it from the exchange

  • @Kirkscrustykippers
    @Kirkscrustykippers 23 дні тому

    Can someone help me plz, im skint been in crypto like 8 week, made a ridiculous amount of changes to my crypto with about 5 wallets i wouldnt knjw where to start and cabt afford an accountant, iv not cashed out any and not sure even if made over 3k yet, can anyone please give some advice? Also do kyc give ya info to hmrc?

  • @kenhodgson4034
    @kenhodgson4034 24 дні тому

    As a uk resident if your crypto wallet is registered in another country set up an offshore bank account and pay funds from your wallet to the offshore account......The profits were not made in the uk and not paid into the uk so therefore no CGT

  • @garethbarrett4172
    @garethbarrett4172 25 днів тому

    Having lived in the UK all of my life and paid into the tax system, I have decided that enough is enough! If you’re living in the UK you are quite simply a SLAVE! I am leaving and taking all of my business overseas. Good luck to the UK government trying to resolve the civil war that’s about to come’ people have had enough!

  • @garethbarrett4172
    @garethbarrett4172 25 днів тому

    Having lived in the UK all of my life and paid into the tax system, I have decided that enough is enough! If you’re living in the UK you are quite simply a SLAVE! I am leaving and taking all of my business overseas. Good luck to the UK government trying to resolve the civil war that’s about to come’ people have had enough!

  • @justaman1721
    @justaman1721 26 днів тому

    Question - if i gift my wife crypto as a gift, can I give it to her in closed trade fiat form or does it have to be crypto for one wallet to another & when she converts that crypto to fiat will she then be taxed on? that?

  • @psy-op
    @psy-op 26 днів тому

    If I become rich for any reason, I'm out of England. England and the English is being destroyed by government.

  • @meanocks
    @meanocks 26 днів тому

    The UK government have it completely covered so you have to jump through unrealistic and stupid hoops to avoid paying this unethical tax. Shame they’ll just use the money they steal from you to fund wars around the world.

  • @captainbritain6737
    @captainbritain6737 26 днів тому

    Shit questions only applying to foreign grifters

  • @pacpern9988
    @pacpern9988 26 днів тому

    We risk our money that has already been taxed and they want more if we win? Well they can F*** O**

  • @Naseerkhan-nm4iq
    @Naseerkhan-nm4iq 26 днів тому

    Dubai Muslim country?very dangerous in near future because of their disguise of wolf in sheep skin.

  • @jiti5034
    @jiti5034 26 днів тому

    ATO is not very clear about how to prove you area Non Resident for Tax purposes

  • @jiti5034
    @jiti5034 26 днів тому

    Wealthy Arab countries do not give PR even if you are a Muslim, Golden Visa is not PR , forget Citizenship

  • @jiti5034
    @jiti5034 26 днів тому

    Easier said than done ATO is very smart and not everybody can shift to UAE and UAE is expensive also

  • @karayel7978
    @karayel7978 27 днів тому

    Aevo 🚀🚀🎉

  • @886anushka
    @886anushka 27 днів тому

    I want to open business in Sharjah media zone, but If first year my business income is less than 50k aed, do I need to do auditing? and which software will I need to take in consideration for maintaining account

  • @shenelclarke
    @shenelclarke 28 днів тому

    Complex

  • @SetupHero
    @SetupHero 28 днів тому

    ✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/+971569251187

  • @hutchings2023
    @hutchings2023 Місяць тому

    Either way they steal your money, gangster number one

  • @Ali-xq9hc
    @Ali-xq9hc Місяць тому

    What a rubbish video

  • @kylevanaswegen8565
    @kylevanaswegen8565 Місяць тому

    I still think it’s BS that you have to pay capital gains tax when you have already been taxed on the money you have invested. Like WTF!!!

  • @sonny8085
    @sonny8085 Місяць тому

    On your website you claim "zero-tax status", but how do you circumvent the 9% corporate tax in Dubai?

  • @adrianunderwood961
    @adrianunderwood961 Місяць тому

    So Uk Crypto investors along with property owners, small business owners and anyone else who has strived to do better are all screwed!

  • @weerobot
    @weerobot Місяць тому

    We take all the Risks they Take The tax,???

  • @luongtime5364
    @luongtime5364 Місяць тому

    🙄🙄🙄 s

  • @SetupHero
    @SetupHero Місяць тому

    ✅ Whatsapp Me - wa.me/+971569251187 ✅ Book 1-on-1 Call setuphero.com/call

  • @stevenward4344
    @stevenward4344 Місяць тому

    At this v moment they’re literally sitting around a table somewhere tryna figure out how to tax the air we breath.

    • @READY-PLAAYER-ONE
      @READY-PLAAYER-ONE 29 днів тому

      We can only hope Farage gets in next and follows Trumps Crypto policies.

    • @myworldstorm
      @myworldstorm 21 день тому

      Oh for sure, and you'll pay more or less for the air quality as well 😏

    • @3lcscholar178
      @3lcscholar178 16 днів тому

      Clean air zones 😂

    • @stevenward4344
      @stevenward4344 16 днів тому

      Within no time they’ll tell you it’s running out so the prices need to go up.

    • @3lcscholar178
      @3lcscholar178 16 днів тому

      @@stevenward4344 have you seen The Lorax? It's a kids movie but in it the guy who runs the town, O'Hare charges for bottled air. Reminds me of what they are trying to do now

  • @kevinclark5086
    @kevinclark5086 Місяць тому

    You can't avoid it legally. That is the answer. Accept that any money earned will be taxed upon cashing out. There are ways to spread the money out between family members as you get 3k before taxation starts.

    • @Kirkscrustykippers
      @Kirkscrustykippers 23 дні тому

      I'm panicking new to crypto like 8 weeks , I wouldn't know where to start iv had about 5 wallets made a ridiculous amount of changes to my crypto , can't afford an accountant, don't even know if iv made 3 k profit at this point, don't suppose u can swing any advise my way? Iv never cashed out any

    • @kevinclark5086
      @kevinclark5086 23 дні тому

      @Kirkscrustykippers you will have to check your tax laws. You could be allowed an allowance before tax is paid. Then check your total account trades to work out your gains. In uk you can do a self assessment tax form before 31st of January.

  • @stephentaylor2119
    @stephentaylor2119 Місяць тому

    I am non dom for UK tax, I do have overseas banking, but how do I stand if I want to send crypto to my UK bank account, rather than a suitcase of beer tokens through customs? I can get letters from overseas authorities, but it's a time-consuming solution, accompanied by some notes slippin' under the table. Suffice to say, legally I should be OK, but I would still rather be a grey man so to speak. Strange how they claim crypto is used for money laundering, even though it is more traceable than cash transactions. We all know who the real criminals and money launderers are!

  • @stephentaylor2119
    @stephentaylor2119 Місяць тому

    Point to note, all but about 7 counties are CRS (Common Reporting Standard) compliant, even Switzerland. Laos is one of the 7 whoa re not and they do have non KYC wallets. It needs looking into if they are trustworthy. A lot of counties are being coerced for fear of being grey listed to be complaint.

  • @SAWhite33
    @SAWhite33 Місяць тому

    So the uk makes it too hard to avoid, so, might as well take it on the chin

  • @GT-eh2wk
    @GT-eh2wk Місяць тому

    Can you borrow against your crypto assets if so when you borrow against the assets it's a debt so would it reduce or remove tax altogether

    • @Ubxtherapy
      @Ubxtherapy Місяць тому

      Just take loan out against crypto... aave or nexo... no tax on loan income

  • @SuperFreestylekings
    @SuperFreestylekings Місяць тому

    Not useful. Title was how to avoid paying tax on crypto in the UK. So run that past me again. How do you avoid it? Went all around the houses talking about domicile and what's classed as being outside or inside uk. Getting back to your own title, where was the bit on how to avoid? Nowhere. Not helpful at all. Next time, just call it 'crypto tax for those who decide to move out of UK '. Very misleading title. Clickbait

  • @oinkgrr
    @oinkgrr Місяць тому

    So what about paying of a loan? There are exchanges that allow you to borrow (either loan or credit card) with your Crypto as collateral, and you can pay the loan in Crypto. Is that a non-taxable event?

    • @rossuk123
      @rossuk123 26 днів тому

      I believe if you pay the loan with crypto, that would be a taxable event and would be considered a sale of the asset. Are you referring to Nexo? Ive been very happy with them for the last couple of years I've used them and have used the loan facility many times. I'm currently heavily paying off the loans that I've built up but the loan to asset value is under 20% so I am paying 2.9% interest

  • @matthewlee8725
    @matthewlee8725 Місяць тому

    I'm not that arsed about paying the CGT when the time comes. I just wonder how I'm going to withdraw millions into a bank account without the bank freezing my account. You'd think they'd be happy to take that amount of money, even if it's been generated through crypto but they're not.

  • @johnbaptistbypassinglife
    @johnbaptistbypassinglife Місяць тому

    Government are the biggest conmen.