# Tier 2 ICT versus Tier 2 General Visa



## yashmittal (Sep 13, 2014)

Hello

I wanted to understand differences between Tier 2 ICT visa versus Tier 2 General Visa.

One of the differences I know is, in ICT, we need to travel back to home country after 5 years time as a cooling off time. Cooling off time should be atleast 1 year. I think, in General Visa, it is not applicable.

I opted General Visa on place of ICT, but seems I made a mistake. Reason being, ICT Visa candidates will have tax saving allowances for first years but General Visa candidates have to pay flat tax on their incomes. No allowances for saving tax.

Could someone please guide me with tax benefits in General and ICT Visa?

Please highlight differences between both the visa. Just wanted to understand if I made a wrong decision by opting General visa?

Thank you..

Yash


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## Joppa (Sep 7, 2009)

I don't know about tax benefit, but the major difference is that while Tier 2 ICT doesn't lead to settlement (ILR; for new applicants), Tier 2 General does (after 5 years).


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## yashmittal (Sep 13, 2014)

Thank you..

But I was looking differences in terms of tax n savings..


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## lovestravel (Apr 9, 2012)

When I spoke with our tax attorney at Deloitte in uk, he said they only uk tax deductions that could be made was if my husband spent over 20% of his time outside the country then whatever he earned in those days would have a tax break. I believe this is a normal tax benefit for all uk residents. The only other type of tax protection is if you sell securities held elsewhere and you keep those funds outside the country then you only pay the local tax from that country and not uk. Otherwise it would be taxed both in the other country and in the uk.


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## Pallykin (Mar 30, 2014)

lovestravel said:


> The only other type of tax protection is if you sell securities held elsewhere and you keep those funds outside the country then you only pay the local tax from that country and not uk. Otherwise it would be taxed both in the other country and in the uk.


How do retirees living off their retirement savings manage financially with this arrangement?


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## lovestravel (Apr 9, 2012)

I have no idea how retires do it. A retiree would have to respond. I am just going on what our tax attorney told us. We have some stocks we were waiting to cash in if the price went up and but didn't want to do it if we would be double taxed while in the uk so we asked to make sure.


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