4 Actions & Deadlines for Online Expat Tax Returns 2018

Auto Matic - Auto Exchange - Auto Mate

ProACT Sam launches new Online Tax Return and Rebate Service

2018 - This is the year of online for Expats Tax Returns.

How are you with online emails, facebook and social media? Are you comfortable with online bank accounts ? Do you shop online or spend time searching on foot in the shops? Are you an email wizard or do you still send post? Or have you only ever received junk mail and financial statements by post for the last 3 years?

In the week that our Facebook friends got caught short in the Russian Meddling investigations, that an Uber driverless car killed its first pedestrian, the UK announce they want driverless cars in the UK in 3 years time , about the time of EU Brexit, while a Cheshire College are testing agricultural robots to seed, weed and feed as well as harvest a farmer’s fields and retail businesses that dominated the old world retail shopping experience - Toys R US, Maplins Electronics are disappearing from 21st century world.

Your Tax Returns are going online.

Cyprus Online Tax Returns

Meanwhile Cyprus Expats must complete all Tax and VAT returns online due from January 2018.

Whether you are a retired Expat, or running a business based in Cyprus all tax returns must be completed online.

Payments are almost online and should be fully within 1-2 years.

Business have been completing online VAT returns since summer 2017 and corporation tax returns for 3 years.

UK Online Tax Returns

This contrasts to the UK who have allowed online returns for many years with a proposal for all business tax returns online by 2020. This cranked up in 2017 with small business being required to submit quarterly online tax returns. In effect the VAT return becomes a full tax return.

Auto Matic Harvest

Facebook have been around for 10 years and suddenly the media and politicians have caught up. The in depth US investigation into Russian social media influence of the US presidential election continues to generate collateral damage

The latest people caught up are Facebook and Cambridge Analytica - a UK data marketing organisation.

It seems that many people were not aware that Facebook is set up to steal all your data. Clever people, in commercial arrangements gather this data to allow them to market effectively. This may well have been the Trump US presidential campaign, with or without Russian help. Maybe the Russians just liked what the British were doing in Cambridge on the Face of it - and that would not be the first time Russians had influenced Britain through Cambridge connections.

The facebook technology has advanced these 10 years, but its not new.

Nor are robots. Which is what Facebook is. When you hear algorithm, think Artificial intelligence. A robot doesn’t have to look humanoid. It could look like Facebook or a car. Uber have been trialling driverless cars in the USA and this week they killed their first human. Albeit it was not a robot error, a human error as the deceased stepped into the road in front of the car.

The UK Government have announced that they plan to allow driverless cars throughout the UK by 2020 - around the time of EU Brexit.

Changing Times

The bricks and mortar retail out of town shopping centres have joined the Town centres in becoming empty shells as consumers choose the convenience and service of online shopping and delivery. Online shopping delivery costs , but not always as much as town centre parking.

Toys R us used to be a location to go with the family to search all toy options for the family in a big day out.

In the old world we went to these shops to spend money.

Toys of us failed to see the service, convenience and choice that online retailers like amazon and Alibaba could offer. Big retail is not dead yet, but today big retail are shopping centres that offer entertainment and day out locations, including shop, eat, play.

Toys R us got stuck in the past and got left behind.

Banks can encourage you to go online, with branch closures and charges.

The tax man is backed by the government, they can change the law and enforce online tax returns.

The good news is in 5 years it will be the norm.

2018 Online Tax Returns for Expats

This year the time has come to embrace the future.

For Cyprus Tax residents this is the only way.

For UK returns expats have some latitude but may find online returns more efficient and effective.

4 Actions & Deadlines for Online Expat Tax Returns 2018

Register to submit Taxisnet Online Cyprus Tax returns
Submit your Full online Cyprus Tax return by June 2018
Register for UK 2017-18 Returns from April 2018 (including earned income and Property Rental Income)
Penalties remain at 100 for a late returns so don’t run out of time to register and then return