Hi,
We want to buy a home here, but are concerned about the tax implications... Now we can deduct out living expenses including rent... do you loose that benefit if you buy? We only plan to be here 3 or 4 years so we are right on the break even point for buying. Someone told me: if you buy you are basically saying you are not temporary, so you lose the living expense deduction... Once you leave, could you retroactively take the tax credit???
We currently have offshore (isle of Man) checking/savings accounts. Any income left off shore and not spent in the UK is not taxed. I have heard you can get an off shore mortgage so that the money you pay to mortgage is not payed into the UK and therefore is not taxed... can anyone confirm this???
Thanks, Oski