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Mickey says: 20 April 2016 at 12:17 I'm a South African with dual nationality (British). I send money to SA every month to pay off debt and to pay off my house in the Western Cape. Will there be a tax implication for this? I will eventually tax return to SA in about 5 years. The reason is set up as house hold bills. Should I use something else? The money goes from my account here to my account there. Thanks |
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TaxTim says: 20 April 2016 at 13:22 How long have you been living in the UK? Is this money earned and taxed while working in the UK? |
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Mickey says: 20 April 2016 at 13:27 Thanks so much for the quick reply. I have been here for 6 months (this time around, was here for 10 years before but left for 5 years). Yes it's earned and taxed while living here. Thanks |
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TaxTim says: 20 April 2016 at 13:56 Since you are living and working in the UK and plan to continue living there for the next 5 years or so, you will fulfil the requirement to be out the country for 183 days (60 days consecutive) and therefore you won't need to pay tax in SA on this money. The description used should be fine. |
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