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The UK's tax regime for non-domiciled residents (non-doms) is set for significant changes starting 6 April 2025.
Cyprus has long been favoured by expatriates for its favourable tax regime, particularly appealing to those with non-domicile status. This status can offer significant tax savings, but there are new updates and requirements that expats need to be aware of to remain compliant with Cypriot tax laws.
The appeal of living and working in the European Union (EU) remains strong among UK expatriates and Cyprus has emerged as a compelling choice with warm weather, great food & low taxes.
Cyprus offers a unique blend of EU benefits and additional flexibility for UK expats. In addition, Cyprus is expected to join the Schengen Area by the middle of 2025 which will offer additional benefits for travelling.
The process of submitting tax returns and awaiting assessments can be daunting, often marred by delays that stretch from months to years. This episode sheds light on these challenges, particularly emphasising the experiences with HMRC and the efforts to improve the situation.
The Schengen Area, known for its borderless travel within Europe, has welcomed new members this year, significantly impacting expatriates living and working in Europe.