Retrospective Tax for Properties Sold in Cyprus between 2021-2023
In 2021, Cyprus introduced a new property tax, ending years of debate and speculation about its implementation.. The new legislation stipulates that sellers of property in Cyprus are liable to pay a tax of 0.4% on the sale value at the time of transfer.
Tax Challenges for Footballers in the Saudi League
The trend of UK footballers moving to leagues like the Saudi League brings to light the broader challenges faced by expatriates. Understanding the tax implications and preparing for the adjustment process are crucial steps in making a successful transition to working abroad.
Discretionary vs Bare Trusts for British Expatriates
As a British citizen living or working abroad, understanding the nuances of trust law and its implications on your financial planning is crucial. Two common types of trusts that often come into consideration are Discretionary Trusts and Bare Trusts.
When do British expats need to submit a UK tax return?
Living abroad as a UK expatriate brings with it a host of exciting opportunities and experiences. However, it also carries certain obligations, particularly in the realm of taxation. Understanding when you are required to file a UK tax return is crucial in ensuring compliance with tax laws and avoiding potential penalties.
Property Rental Tax Creep
Since financial exchange of information regulation was introduced 10 years ago great strides have been made to tackle criminal activities.
Anti money laundering (AML) is always at the centre and the essence of this is income not declared nor tax paid.
UK State Pension for Expats: Ensuring Your Financial Security
For those of you who have chosen to live abroad, it's important not to neglect your UK state pension entitlement. This article will provide an overview of the UK state pension for expats, including how to maintain UK National Insurance contributions, weekly and monthly contribution options for Class 2 and Class 4, tax-efficient saving comparisons for contracts while working abroad, index-linked pension benefits for retirement, and how to catch up on any missed years to ensure you receive the full UK state pension. This includes the 10-year catch-up opportunity running until June 2023.
8 Tax Saving Reasons to Go Expat
It is the start of UK tax year. I will be highlighting UK tax changes in the year ahead and how they affect families, property and businesses including multi year tax savings by relocating overseas.