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Overseas resident & uk bank account - tax issues?

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Hello there.  

A former client has been in contact and they have been abroad for a number of years but still kept their UK bank account opened with minimal interest.  Due to the pandemic and their locality, they are thinking of working remotely as a virtual assistant with receipts from the plaform(s) being using used linked to paypal.

They are thinking of using the UK bank account to which their paypal account is linked to access the payments rather than opening a new account in their home country which is quite complex matter added to  this their existing bank does not support paypal (not sure why).  Are there any UK tax implications in regards to this (using the UK account), I think not as if you are resident overseas, you don't have to pay tax on this.

Nice to hear some feedback.

 

Many thanks,

 

 

Jeri

 

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By David Ex
22nd Jul 2021 15:55

Jerico1917 wrote:

Are there any UK tax implications in regards to this (using the UK account),

First thing might be to ask the UK bank. What address do they hold for the client? Is the account a personal account or business?

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By carnmores
22nd Jul 2021 16:12

is it a ruse not to pay tax in country of residence , where is that anyway?
in theory banking restrictions permitting its OK

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Replying to carnmores:
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By Jerico1917
22nd Jul 2021 16:49

Hello Canmores,

No ruse to escape tax!!! They researching this at the moment and thought they asked me on the off chance.

They want to pay tax but want to do the right thing but its the paypal issue in their country which all I can say is not far from where paddington bear was from.

The money will then get transferred back to their home country bank account and then they will declare the income over there and pay the tax thereon if thereon.

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Replying to Jerico1917:
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By carnmores
22nd Jul 2021 17:04

sounds fine to me . Nick

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