The following is the text of an e-mail from the Branch Secretary published on this site recently:
“From: Richard Smith
Subject: UK TAX ALLOWANCES
I am sure that, by now, you will be aware that the UK government is proposing to remove the tax allowances for UK citizens that are resident abroad. This will affect all those that have taxable income in the UK such as Government Pensions (retired Teachers, Nurses, Policemen, Firemen, Military personnel and other public servants) that are covered by the Double Taxation Treaty between the UK and France. It will also include those people with UK property that is rented out – tax payable in the UK.
The current allowance is £10,000 rising to £10,500 later this year – the UK government is proposing to reduce this to zero. This means that you will pay UK tax on every penny of your pension or rental income.
The government is consulting on this proposal The– see link below – which closes on October 9th. Section 7 contains a number of questions and you can reply to as many as are relevant to you.”
Unfortunately the consultation period has now ended. However, you can find out the outcome of the public feedback by visiting the Government web page – <HERE>.
We will post helpful comments on the Goverment decision as soon as we know and this will be one of the items on our next branch meeting agenda.