Expats will reap rewards from Budget

British expats no longer domiciled in the UK for tax purposes with overseas employment income of less than £10,000 a year and overseas interest of less than £100, will no longer be obliged to file a self-assessment return if the money is subject to a foreign tax. This rule change will come into effect from 6 April 2008. Grant Thornton says exemptions have been extended to allow property purchased out of foreign income and foreign charitable gains, plus relevant foreign income. "These 'minor' amendments will in the main help to clarify the rules, but are an admission of the complexity ...