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.

 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

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

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.

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

— 

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  

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

Sam Orgill www.proactpartnership.com  asks what do you want from the changes to Domicile from a Cyprus perspective. Change of Domicile Impacts Everything

In the Summer of 2015 Cyprus has introduced wide ranging changes in legislation that has a direct impact on the tax status of assets held by expats in Cyprus. 

Now every Expat must review their Wills, Inheritance Tax, Savings Taxes and Property Title Deeds: to bring their needs in line with the new legislation. 

Click Here Register for Free Services From ProACT Tax Saving Expat Experts

Contact Us Say Hello !!         ProACT Web Site 

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 started a currency fall that at the start of September 2017  sees the Pound trading at £1.07 to 1.00 Euro – a might fall of nearly 25% in 15 months.

This means UK Expats transferring there Pound sterling to Euro now get 3 apples not 4. The meal out in a Spanish or Cyprus restaurant is a meal for three with someone left at home.

The UK pension payment that converted to Euro 2000 in June 2016 now converts to 1500.

That has a dramatic effect on your spending plans.  It’s one less trip back to the UK this year, the planned mini cruise postponed until another year.

Why is the £Pound so low against the Euro?

Read more to receive our free guide; 4 Expat Actions to Save on Currency Exchange

PLAN YOUR EXPAT EXIT PLAN - 5 Things To Include

Sam Orgill of www.proactpartnership.com gives

5 Things Expats Should include in Their Exit Strategy - when Living and Working Abroad Goes Wrong

What gets missed, in the excitement and enthusiasm of relocating overseas, achieving your dream of Living and Working Aboard, investing in overseas property and business, is an exit strategy. 

We all get carried away with something new, something exciting, and can easily allow our common sense to be left on the beach while we go in search of promised new lands, home and work abroad. But what then? How do we get back home? What if the dream fails?

Here’s a check list of 5 things for expats to include in their exit strategy.

REGISTER FOR FREE SERVICES

The tax return deadline is 31/7/17 for 017 Cyprus Temporary Tax Returns and Payment Now Due. 

If you have yet to make a return then you have a month left to complete the return and make any tax due without penalty.

WHAT IS THE TEMPORARY RETURN?

The Cyprus temporary tax return is an estimate of income tax due for the current year and is due from 1st July.

ProACT Partnership Tax Saving Expat Experts -Tax Return Service

Need help completing a return ? What advice on when to pay ? Need to be sure to avaoid penalties ? Contact-us for Free Review

www.proactpartnership.com/contact-u

Sam Orgill

ProACT Partnership Expatriate Advice