One of the positive aspects to come out of the pandemic was the ability to work away from the office. With all of the right IT systems and support functions around you then a lot of businesses can operate from anywhere and working abroad is now a reality.
IT systems can allow you to still communicate through Zoom or Microsoft Teams with everyone in your business. You can purchase laptops and travel screens, consult with your outsourced finance department and keep on top of everything on Xero. One of our clients Paula Langley at Bookers & Bolton has done just this and is currently working remotely in Costa Rica; you can follow her amazing adventures here.
Bookers & Bolton provide a variety of legal services from conveyancing, wills and probate, family and commercial. Located in Alton, they have built a reputation for quality and reliability in Hampshire and the South.
When it comes to tax, every situation is different and it will depend on where you want to work outside of the UK and for how long in any tax year. The basic rules are if you are working overseas short-term (usually less than 183 days) then you will continue to pay UK Income Tax.
If you decide to not remain as a UK tax resident, this will mean you will become an overseas resident and become resident of both countries. There could be a double tax agreement (depending on the location). This can be a fairly complicated situation, so it is always best to seek professional advice in order to ensure all of your tax affairs are in order.
At Clear Vision Financial Management, we work collaboratively with our clients providing an outsourced finance function. We can support your business from anywhere using the latest accounting software so we can all access your finances at any time.
Sean Daniel, Managing Director said “The pandemic has affected how everyone in the UK does business. Being able to work remotely has brought in new options to where people can work and operate their business.”
If you would like a chat about how you can separate your business and personal finances, please get in touch with the friendly Clear Vision Financial Management team. You can call us on 01794 330025 or email us