Expats uncertain about tax situation

Working overseas can complicate matters when it comes to tax issues and it appears that expatriates would appreciate a little bit more advice in this area.A recent survey of international assignees conducted by Lloyds TSB International Global Mobility Banking revealed that 61per cent of employees on overseas work are happier than they were in the UK. But 53 per cent would have found more advice on tax issues useful.With the 50 per cent tax rate still in place, those working overseas might find that they have more options to cut valuable rates off their tax bill.Fortunately, the majority of reports suggested that working abroad was a positive experience. Around half of those abroad received a moving allowance from their employee, while 42 per cent received flights back to the UK and 41 per cent had help with their housing costs.Nicholas Boys Smith, director at Lloyds TSB International, commented: “Many companies are currently under pressure to reduce costs and we’re well aware how expensive overseas assignments can be for employers. But we’re also aware that most employees really value any help their companies can give to guide them through the logistics of moving overseas.”

http://www.50percenttax.co.uk/index/2012/5/18/expats-uncertain-about-tax-situation.html