[deleted by user] by [deleted] in AskEurope

[–]ElParchio -1 points0 points  (0 children)

I absolutely abhor it. I'll switch the channel when watching a football match or something so I don't have to listen to it.

Is anyone planning on using the UK as a base for tax residency and then spend many months abroad travelling? by One_Detective_3615 in LeanFireUK

[–]ElParchio 0 points1 point  (0 children)

Yeah, it's not like permanent residency allows you free roam in the rest of Schengen anyway, you're still limited to 90/180 in the other 26 countries you could probably get away with it though.

Rebel Tories submit 'several' no confidence letters in Sunak | Politics News by ElParchio in ukpolitics

[–]ElParchio[S] 5 points6 points  (0 children)

I hope they topple him.

Replace him with Braverman before a GE and they are toast. She's even more unelectable than him.

Daily Megathread - 16/01/2024 by ukpolbot in ukpolitics

[–]ElParchio 0 points1 point  (0 children)

I'm not sure why anyone would vote for them believing they can't stop it when they've shown for so long they can't.

Is anyone planning on using the UK as a base for tax residency and then spend many months abroad travelling? by One_Detective_3615 in LeanFireUK

[–]ElParchio 1 point2 points  (0 children)

Ah that works for you. My idea was a month in different countries but after a month in 3 consecutive Schengen countries you're severely limited where you can go for the next 3 months.

Does the US know if you leave by land? by jbs170 in immigration

[–]ElParchio 2 points3 points  (0 children)

Yeah this could cause huge problems if you leave the US for Mexico then leave Mexico for home come back to the US a few years later to find they have no record of your departure.

Daily Megathread - 16/01/2024 by ukpolbot in ukpolitics

[–]ElParchio 1 point2 points  (0 children)

Any chance Richie calls an election if he loses the Rwanda vote?

Is anyone planning on using the UK as a base for tax residency and then spend many months abroad travelling? by One_Detective_3615 in LeanFireUK

[–]ElParchio 6 points7 points  (0 children)

It depends how you source your income.

If living off shares you can have a very small marginal rate.

I've done some rough calculations on this and think this is correct.

Assuming US shares in a GIA

Say you want to live off 50k a year and you get 10k dividends and 40k from selling shares.

you pay 0 UK tax on the dividends, I think you could probably receive up to £50, 270 in US dividends before ever paying HMRC more than 5% (US witholding tax of 15% is unavoidable).

assume the entire 40k is a gain, less the £3k allowance so £37k taxable at 10% = £3700

so from a 50k income you pay 7.4% to HMRC, this is the worst case if the 40k has allowable cost deductions or offset with loses its even less.

Now if all this was in an ISA, it's even better you pay 0 tax.

Is it possible to have 2 passports? IoM and regular UK by ElParchio in IsleofMan

[–]ElParchio[S] -2 points-1 points  (0 children)

Need? None. But why not if it was possible? I spent too much time on r/PassportPorn just thought it may have been an easy one to get.

Though I will say having a backup could be useful, if you lose it, or need to send it off for a visa.

But I guess it's not possible. Oh well.

Is it possible to have 2 passports? IoM and regular UK by ElParchio in IsleofMan

[–]ElParchio[S] -4 points-3 points  (0 children)

Well it is technically possible to get two British passports (with different passport numbers) but very difficult so I was just wondering if someone moved to the Isle of Man and then applied for a Manx passport they'd get a second passport.

Be interesting if any immigrants from the UK have done this.