Travel Reference
In-Depth Information
cycle. Roughly 100 are awarded each year and they usually provide funds for four to eight
weeks.
The Trust emphasises that fellowships are
not
granted to gappers looking to fund academic
studies, attend courses or take part in volunteer placements arranged by other organisations.
The advice is to study the WCMT website for examples of projects that have been funded,
as they are very wide-ranging and will help you come up with your own ideas.
To find out more you can contact the Trust, see
www.wcmt.org.uk
,
where you can apply
online.
Tax issues
If you go to live or work abroad, and become non-resident in the UK, you might still have
to pay UK tax - but
only
on your income earned in the UK (savings, dividends, rental in-
come
etc
). If you do need to pay, you may need to complete a self-assessment tax return.
This website explains the tax implications for all the circumstances in which you might be
abroad, whether temporarily or permanently. It's particularly useful if you're thinking of
renting out your home:
What about the house?
Some mortgage lenders may allow a payment holiday of up to six months without affecting
your scheme.
Another option might be to rent out your house. You may need to check terms and condi-
tions for subletting with your mortgage lender, but it can be a good way of covering the
mortgage costs while you are away.
As it is your home and you need to be sure it will be looked after while you are away, the
above reinforces our advice that, if you decide to rent, it's worth using an accommodation
agent to take care of things and make sure you comply with all the regulations.
It would also be wise to check with the Inland Revenue to see whether you are eligible for
a tax exemption certificate (on your rental income), which should be given to the accom-
modation agent.
When letting a house there are some rules to abide by and some safety certificates you must
have if you're going to take this route. Another must is to tell your insurance company what
you're planning.
Another possibility is a house swap
