HOW TO AVOID UK TAX WHEN MOVING ABROAD (Legally) 🇬🇧 Tax residency and HMRC tests explained

UK nationals leaving the country may be subject to tax by HMRC if they don't take certain important steps needed to lose their tax residency. In this video I explain the automatic tests and sufficient ties used to determine if someone is a tax resident in the UK, and some possible steps you can take to lose your tax residency status in the UK.

** Not tax advice - always seek the help a professional when in doubt **

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Mentioned in this video:
HMRC Tax residence and tests info: https://www.gov.uk/hmrc-internal-manu...

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Chapters:
0:00 - Intro
0:44 - Moving abroad in a UK tax year
2:13 - HMRC Automatic tests
3:45 - Sufficient Ties
6:13 - How to lose your UK tax residency

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About me:

Welcome to Millennials With Money!

My name is Jonny, I'm a financial analyst from the UK, currently living and working in Spain.

I created this channel to help and inspire young people to improve their financial situation and live life to the full by sharing my own experiences with money and living abroad.

I upload content on a weekly basis about personal finance, how to invest your money, tips to help you save more money, real estate and property, and travel and living overseas.

Everybody is welcome in the Millennials With Money community! Let's get this money!!!

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#uk
#tax
#expat

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DISCLAIMER: The opinions and views shared on this channel are for entertainment and educational purposes only and are not to be taken as financial advice. Always conduct your own research prior to making any financial decision. Millennials With Money cannot be held responsible for any financial loss incurred from any decisions you make following this video.