Deals
The Taxman Cometh: Bankers Fleeing U.K. Lockdown Told to Return
- Extended stays abroad raise complicated tax questions
- FCA regulators have indicated concerns to firms as well
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Bankers who waited out Britain’s lockdown beyond the U.K.’s borders are being told by their employers that it’s time to return.
Unless they leave vacation homes in France or their parents’ place in Poland soon, they risk complicating their residency status and, more importantly for a government running up historic peacetime deficits, depriving the Treasury of tax payments. Firms could also become liable for paying into national insurance systems in multiple countries.