Hi folks, hope you can help.
One of my clients has made a substantial sum crypto currency trading and investing. (Circa £2m) and is emigrating to Portugal
He has now obtained his residency - yesterday, has a Portuguses NI Number (NIF) and has been granted fiscal resdiency.
Currently there is no tax levied on cryptocurrency trading, nor conversion to FIAT in Portugal, and he wants to withdraw circa £500k to buy a house. Under Portugeuse law he won't be taxed on this, so my question is, does he have to be out of this country for more than 183 days in 12 months for it to be not taxed in UK.
He still has business interests in UK which are dealt with in UK tax system, but he is actually now living in Portugal, he's been there six weeks, and has rented an apartment for 6 months whilst he looks for somewhere to buy.