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Cyprus Eastern Forum Index » Legal Questions & Issues » Double Taxation
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Double Taxation 
Post: #1   PostPosted: Sun Apr 29, 2018 6:42 am Reply with quote
Towser51
Joined: 23 Sep 2015
Posts: 3
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Hi, hope someone explain something for me.

I have never been very good at understanding taxation and reading about the proposed change in the double taxation agreement has me totally bamboozled.

Some people are saying, they will be better off if their civil service pensions are taxed in the UK as this will bring them under the tax threshold in both countries - does this mean you can claim the personal allowance in UK and Cyprus?

Having been in Cyprus for a year and registered to pay tax here does this mean if I now decide to let out my UK property I can claim the income against the personal allowance?

Many thanks.

Alan
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Post: #2   PostPosted: Sun Apr 29, 2018 7:46 am Reply with quote
Anne Randle
Joined: 14 May 2006
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Location: Vrysoulles

 
Hi,

Haven't heard about proposed changes!
I have been paying tax here for 8 years and can give you an insight, happy to discuss but don't want to post personal info so if you want to mail me we can arrange to speak over the phone.

Anne
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Post: #3   PostPosted: Sun Apr 29, 2018 7:58 am Reply with quote
nhowarth
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Hi Alan and Anne

I published an article a few days ago that explains the changes in taxation brought about by the new Double Taxation Agreement between the UK and Cyprus - see
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.

Alan - the income you receive from renting your property in the UK is taxed by HMRC - see
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.

Regards,

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Double Taxation 
Post: #4   PostPosted: Sun Apr 29, 2018 9:31 am Reply with quote
Towser51
Joined: 23 Sep 2015
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Thanks Anne and Nigel.

Anne, new to posting on forums so not sure how to get in touch with you.
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Post: #5   PostPosted: Sun Apr 29, 2018 10:35 am Reply with quote
Kwacka
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Hi, & welcome to the forum, as you can see there's plenty of info here.

You can contact other members via the forum, just click on the 'email' tab at the bottom of the poster's message

HTH

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Double Taxation 
Post: #6   PostPosted: Sun Apr 29, 2018 1:56 pm Reply with quote
Towser51
Joined: 23 Sep 2015
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Kwacka, thanks for the welcome.

Anne, unfortunately I don't have enough posts to email you yet.

Alan
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Post: #7   PostPosted: Sun Apr 29, 2018 2:11 pm Reply with quote
mac69
Joined: 21 Feb 2010
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Thanks for the article Nigel , I think I am one of the lucky ones . I have just started getting my state pension and added to my Nhs and company pension would have taken me over the Cyprus tax allowance ( only by a small amount ) . Laughing
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Post: #8   PostPosted: Mon Apr 30, 2018 5:41 am Reply with quote
nhowarth
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mac69 wrote:
I think I am one of the lucky ones


Clap

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Post: #9   PostPosted: Mon Apr 30, 2018 12:24 pm Reply with quote
Anne Randle
Joined: 14 May 2006
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Location: Vrysoulles

 
Hi, if you provide a tel number happy to call you,

Anne
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Post: #10   PostPosted: Mon Apr 30, 2018 3:34 pm Reply with quote
lee paul
Joined: 21 Feb 2017
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wow thanks!!! after 24 years ,countless tours, two fooked knees and lower back issues.. the government find yet other way of making my day c**p!!! at lest its still sunny.. really upsets me that i have to pay tax on a pension to then pay for somebodies state pension who have never worked ..
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Post: #11   PostPosted: Mon Apr 30, 2018 3:47 pm Reply with quote
lee paul
Joined: 21 Feb 2017
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me again .. so if my pension is below 11500 a year in the UK does that mean it does not get Taxed? does that mean i can work in Cyprus? I'm confused lol
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Post: #12   PostPosted: Tue May 01, 2018 4:18 pm Reply with quote
nhowarth
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lee paul wrote:
if my pension is below 11500 a year in the UK does that mean it does not get Taxed? does that mean i can work in Cyprus?


There's nothing to stop you working in Cyprus your pension arrangements have no bearing on the matter.

Hopefully you'll be able to get the UK Personal Allowance of £11,850, But no-one can say for sure until both countries have completed their respective domestic ratification procedures

I've had a worrying comments on my article: "The UK tax allowance is not available in the case of government pensions paid abroad."

I have asked the author to let me know where he got this information, but no reply to date.

(If his statement is true you could have your pension paid into a UK bank and transfer it to Cyprus as needed.)

Regards,

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Post: #13   PostPosted: Tue May 01, 2018 5:22 pm Reply with quote
Kwacka
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From the notes for the 2018 tax return:

Quote:
Income Tax

As a non-resident, you’re liable to UK Income Tax on income you receive from UK sources. You’re not normally liable to
UK Income Tax on income from:
.........

certain pensions paid out of UK funds for government service in Commonwealth countries


I hope this is what was meant.


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Post: #14   PostPosted: Wed May 02, 2018 5:53 am Reply with quote
nhowarth
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I've received the following:

"Have just been talking with a friend who has resided in Spain for nearly 20 years. He pays tax on his military pension at source but can claim the personal tax allowance despite being registered to pay tax in Spain.

Interestingly, his old age pension is taxed in Spain where he uses the Spanish personal tax allowance. He says that the Spanish tax authorities are not interested in any income where he pays tax at source in UK."


Regards,

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Nigel Howarth
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Double Taxation 
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