Hi
I have been approached about working for a company based in Dubai, being paid into a Dubai bank account but being resident (and working remotely) in the UK.
What are the tax implications of this?
As I understand it, any money I bring back into the UK from Dubai would have to be taxed as if it were local income (national insurance, tax etc.)
So to pay bills (such as my mortgage) I would have to transfer money to my UK bank account and keep track of it so as to declare it in my tax return as foreign income. There would be a record of the transaction in my UK bank account if ever the Inland Revenue came knocking.
But what about money that I take from my Dubai bank account using an ATM card? Who would ever know about that money?
Interested to know if anyone has an opinion on this.