Automatic Inheritance Tax on Property, Business and Probate.for Expats

Automatic Inheritance Tax on Property, Business and Probate.for Expats

Automatic Inheritance Tax on Property, Business and Probate for Expats

8 Reason to Use Wills and Trusts to Protect Overseas Assets

ProACT Sam Orgill www.proactpartnership.com  .

Automatic Exchange of Information Impacts Everything

Time to review your Will: EU law is not the same as UK, and Automatic Exchange of information makes sure offshore property, investment and business is reported between your home country and country of residence.

The EU introduced new laws for dealing with Estates. Cyprus like other EU countries introduced wide ranging changes in legislation that has a direct impact on the tax status of assets held by Expats overseas.

This allows the possibility for the home country to find out about the overseas business, property and investment assets.  This could add a 40% inheritance tax bill to an estate.

In 2017 the bar is raised further, as automatic exchange of information means any financial transaction, including property purchase or sales, probate administration or tax return is reported to the home country.

Now every Expat must review their use of Wills and Trust to protect overseas property, business and investments in line with the new legislation and automatic exchange of information rules.

Read the Full Article for More detail and 8 Reason to Use Wills and Trusts to Protect Overseas Assets

3 Reasons to Review Expat Tax & Pensions

3 Reasons to Review Expat Tax & Pensions

TUESDAY TAX BLOG; ProACT Sam Orgill at Changes to Tax Laws that means there are 3 Reasons to Review Expat Tax & Pensions

Living With a Paradise Paper

If you are Living and Working Abroad in Paradise there may be a piece of paper on its way to you.

Big changes to Tax and Pension for Expats means the Tax Man in your home country and your country of residence may be sending you a letter or a tax demand in the next few months.

 

Deadlines for Tax Returns & Rebates for Expats in Cyprus and UK

Deadlines for Tax Returns & Rebates for Expats in Cyprus and UK

Tuesday Tax Blog: This Week Deadlines for Tax returns & Rebates for Expats in Cyprus and UK

Cyprus Temporary Tax Returns & Payments are now due. 

UK tax returns and  rebates for tax paid in the UK in 2016/17 can now be reclaimed.  

Are you certain your tax affairs will stand the scrutiny of Exchange of information ?

ProACT Sam Orgill  has written a free guide for Expats to download explaining the new risks from the taxman, follow the link to download:

Assessing the Risk - How the Tax man Shares Your Information

Click to Read Full article  

Where will Exchange Rates Go for Expats in the Coming Months?

Where will Exchange Rates Go for Expats in the Coming Months?

Monday Money Blog Examines the potential impact of a Rise in UK Interest Rates before the November 2017 Budget, and

Reveals 6 Benefits for Expats from Higher UK Exchange Rates v Euro

ProACT Sam Orgill Tax Saving Expat Experts

The EU Brexit Vote has hit British Expats Living and Working in the EU hard. The day after the Brexit vote on 24/6/2016 Sterling fell sharply from £1=Euro1.30 so by the end of October 2017 the Pound is trading at £1.00 = Euro 1.13 , a mighty fall of nearly 15% in 16 months.

This affects how many Euros to spend have UK expats living in euro land, or the £ Sterling back taken home after the sale of Euro-land overseas property. Here we look and the background and reveal:- 

6 Benefits for Expats from Higher UK Exchange Rates v Euro

5 Things to Plan for the UK Budget Tax Changes

5 Things to Plan for the UK Budget Tax Changes

EU Brexit for Expats - 5 Things to Plan for the UK Budget Tax Changes

ProACT Sam Orgill of www.proactpartnership.com Tax Saving Expat Experts

Everything’s the same in the UK. Same Chancellor, same prime minister, same tax year. 

Then everything is different – the UK Budget date has been changed, from Spring to Autumn, (March to November), the UK government has lost its majority, the EU have turned up the heat on EU Brexit, politicians are feeling the heat from the opposition and unions, inflation is rising, people are being squeezed financially.

Click Here to Read 5 Things to plan for EU Brexit for Expats connected to the UK Budget and tax changes ahead.

2 Ways to Reclaim Tax on Cyprus Property

2 Ways to Reclaim Tax on Cyprus Property

 Have you got your title deeds finally in the last two years but paid more in transfer taxes than you planned ?

Have you sold a Cyprus Property and paid more capital gains on a valuation that didn’t match up?

Was your Immovable Property Tax bill very high?

The ProACT Tax Saving Expat Experts see this issue every week.

We Recently Saved a Client €3500 Capital Gains Tax

5 Must Do Actions to Review Your Money, Business and Property Overseas

5 Must Do Actions to Review Your Money, Business and Property Overseas

Have you had problems with banks closing account on you over the last year?  Have you had to supply new name, address, ID and tax reference number proof to banks and investment companies?  Are your rental agents getting restless about an overseas landlord registration number? Has a bank turned down a request to open a new bank account?

Many things have changed in the last year.  ProACT Sam has produce a Free Guide and we office a Free review for Expats Living and Working Abroad or Overseas Property and Business Investors.

Free Download Click Here for 'How Banks and the Tax Man Share Your Financial Information'

We offer a Free Review Online or at our UK or Cyprus Office - Click Here Contact Us to Book

 

5 Top Low Tax Options for Expats

5 Top Low Tax Options for Expats

Tuesday Tax: Tax Won’t Change With Brexit UK-Cyprus

5 Top Low Tax Options for Expats Living and Working Abroad

The UK and Cyprus have had a personal and business double taxation treaty since 1974. This will not change after Brexit nor impact on personal or business tax arrangements. Double taxation treaties exist with countries as diverse as Albania and Algeria to Zambia and Vietnam.

Monday Money: Free Guide to Money Transfer & Tax Changes for Expats

Monday Money on current issues from the Expat Experts for family, business and the retired Living and Working Abroad  brought to you by ProACT Sam Says  

Click Here to Download the Free Guide to Money Transfer & Tax Changes for Expats

Assessing the Risk - Joining the Circle of Information Exchange

Sam Orgill of ProACT Partnership examines the impact of Automatic Exchange of Information on the Money of Expats Living and Working Abroad

International Movement

Are you aware of the changes to international tax rules?  Do you understand the impact this will have on your tax affairs when Living and Working Abroad or investing in overseas Property, Investments and Business?

Do you rely on discretion tax planning assuming “what the taxman doesn’t know is ok ?”

Do you think that if you own and rent property abroad the income and capital gains is not taxable at home?

Maybe you assume that the bank, estate agent, or lawyer will tell you what tax is due?

Whatever your approach you should have updated you tax affairs since the start of 2016  giving the information to find out if your tax affairs are not up to date, and if the tax man finds out, he will assess retrospectively and could charge back tax, fines and penalties.

READ IN DETAIL what has changed?

Click Here to Download the Free Guide to Money Transfer & Tax Changes for Expats

Friday Brexit Briefing: 5 Step Checklist To Review for Your Brexit

Friday Brexit Briefing: 5 Step Checklist To Review for Your Brexit

5 Step Checklist To Review for Your Brexit

EU Brexit for Expats is a weekly Friday blog for Expats Living and Working Abroad in the UK and in Europe who are affected by the changes in Europe.

Register and Follow our weekly blog for the latest news.

From ProACT Sam Orgill, 

ProACT Partnership Expatriate Advice

www.proactpartnership.com/register

5 Step Checklist To Review for Your Brexit- EU Brexit for Working Expats

6% of 170,000 BRITISH retail workers are EU citizens.

Theresa May has confirmed their work and residential rights will be the same as BRITISH citizens after Brexit.

British Expats Living and Working Abroad in the EU will be hoping for a similar commitment from the EU.

Tuesday Tax: 3 Ways the Tax Man Receives Exchanged Information

Tuesday Tax: 3 Ways the Tax Man Receives Exchanged Information

Tuesday tax is a weekly briefing of tax news for people Living and Working Abroad from ProACT Partnership Tax Saving Expat Experts. 

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Have you wondered why your banks, savings institutions and property lawyers are chasing you this last year to Update your ID, address and tax number ?

Because of the internet.

Really. Information technology allows the tax man to exchange hugh amounts of Data with the countries it cooperates with. 

They all cooperate apart from the extremes - North Korea anyone ?

www.proactpartnership.com/contact-us  

Save Probate Costs & Inheritance Tax with Cyprus Property Trust 9 Benefits of a Cyprus Property Family Trust

Save Probate Costs & Inheritance Tax with Cyprus Property Trust 9 Benefits of a Cyprus Property Family Trust

Do you ever wonder how your family would deal with your Overseas Property on Death? How your wife, husband, children would cope with the time, expense and development of settling your estate in your home country and overseas?

How would you tackle the UK probate and Inheritance tax assessment, a possible demand for 40% inheritance tax payable with 6 months of death?

A simple UK probate on average takes 9 months to settle. If you need probate overseas as well then that time is easily doubled. How would your family manage the overseas property? What is the expense of Probate lawyers overseas (10%) and offshore property agents (5%) and the time off work and travel to clear up your time living and working abroad?

We have created a free article on our website listing the 7 Benefits of a Cyprus Property Family Trust for expats owning overseas property in Cyprus and other countries.

We know from experience over 20 years that planning ahead to protect your Family overseas property assets from the cost and delay of Probate, Forced Sale and Inheritance Tax at a difficult time for your loved ones. 

ProACT can help you protect your family assets down the generations.

Remember, we offer a FREE no obligation Review.

7 Benefits of a Cyprus Property Family Trust

1.           The Trust Deed & Gift can be created