Don't know about UK, but in Canada one can stop paying taxes once all "domestic ties" are severed. This means closing all bank accounts, disconnecting all phones and selling the car and the real estate (or alternatively leasing it out for a long term). Even after all this is done, the tax agency (CRA) will not assume you to be a non-resident if you do not stay out of the country for at least 2 years. So it is a hassle. Can't just lock the house, hop on the plane and spend a year travelling.
Btw, the best thing to do for you at this point would be to talk to the tax planning advisor. Pick a big accounting firm with lots of experience and in one hour you will know if you want to do I or not.
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Don't know about UK, but in Canada one can stop paying taxes once all "domestic ties" are severed. This means closing all bank accounts, disconnecting all phones and selling the car and the real estate (or alternatively leasing it out for a long term). Even after all this is done, the tax agency (CRA) will not assume you to be a non-resident if you do not stay out of the country for at least 2 years. So it is a hassle. Can't just lock the house, hop on the plane and spend a year travelling.
Btw, the best thing to do for you at this point would be to talk to the tax planning advisor. Pick a big accounting firm with lots of experience and in one hour you will know if you want to do I or not.
Is it really 2 years? You can't speed it up in any way?
The way I understand it is if you come back for residency in less than two years, CRA may have some questions.
But if you don't, and register those 2 tax years as non-resident then it would be fine?
That's my understanding, yes. Talk to a tax lawyer though - KPMG, E&Y or similar. No cheap, but it's money well spent if you are planning an "escape".