Do I Need To Change My Driving Licence With Brexit in the UK, EU or Cyprus?

ProACT Sam looks at how domicile is affected by Brexit, and also at how is tax affected in the EU, UK & Cyprus.

ProACT Sam Explores Unions and Consequence of History in an Ever Changing World for Expats.

Today we will outline how a UK Expat Living and Working Abroad  can plan the business and family trips to the UK without impact on your UK non resident tax status.

For Expats Living and Working Abroad  with Pensions, Trading in Business with Euro, or investing in Overseas Property in Euroland, the UK GBP Sterling v Euro Exchange Rate can make a big difference.

There was a 30% fall in the GBPvEuro exchange rate after the UK Referendum in 2016 - Will Sterling GBP strengthen and recover with certainty after Brexit day? 29/3/2019. 

There is a New UK Cyprus - UK Double Taxation Treaty (DT) from 2018 that means any form of Public Service Pension will now be taxed in your home country.

For UK Expats in Cyprus, Pension tax could rise from 5% to over 40%.

The pensions affected are any paid for from government funds, including all civil service, local authority, NHS, military and any other body where the pension funds come from government funds.

You can keep your tax under the old rules but must act now by electing to stick with the old DT. The election is a concession for 5 years to use the old DT rules, as opposed to the new rules.

If you elect for the 'old rules' you in practice will pay the same tax arrangements as for 2018 and before.

You should complete and submit the letter to elect to use the old rules from the Double Taxation ('DT') 1974.

Free Down Load - Pension Election Letter - https://bit.ly/2t6wbTx