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Cyprus Eastern Forum Index » Ask Nigel A Question » Local government pension
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Local government pension 
Post: #1   PostPosted: Wed May 15, 2019 5:13 pm Reply with quote
Murch
Joined: 25 Oct 2011
Posts: 131
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Location: Uk & Xylofagou

 
Hi Nigel,
Iíve taken my small pension early and was wondering what best to do with regards paying tax on it. Iím not a pensioner and wonít be for another 12 years. (Unless they move the goal posts!!)
So, not sure whether to leave it taxed in the uk or not.
Iíve read your article but these things send my head into a spin.

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Post: #2   PostPosted: Wed May 15, 2019 5:29 pm Reply with quote
trevnhil
Joined: 30 Aug 2005
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Location: Polemi. Paphos area

 
Do you live in Cyprus more than 183 days in a year.. If so I was under the impression that you had to pay tax in Cyprus, or at least register here with the tax authorities.
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Post: #3   PostPosted: Wed May 15, 2019 5:36 pm Reply with quote
Murch
Joined: 25 Oct 2011
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Location: Uk & Xylofagou

 
Yes I do live here.

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Post: #4   PostPosted: Wed May 15, 2019 5:43 pm Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
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Location: ROC

 
Murch wrote:
Yes I do live here.


Then I believe that if you earn less than Ä19500pa you won't end up paying any tax here.

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Post: #5   PostPosted: Wed May 15, 2019 7:23 pm Reply with quote
hatzyian
Joined: 06 Aug 2007
Posts: 1087
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Location: Aradippou

 
Whatever you earn (wage, pension etc), even if it's below the threshold, as far as I know, you have to register.

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Post: #6   PostPosted: Thu May 16, 2019 4:48 pm Reply with quote
nhowarth
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Joined: 30 Aug 2005
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Location: Erimi, Limassol

 
Hi Murch

As you're a permanent resident, you must register to pay tax in Cyprus. To ensure you pension is paid without the deduction of tax, you need to complete a
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.

When you visit the Tax Office to register, take this form with you. They will complete it and send it to the UK and (eventually) you will receive your pension from the UK without any tax being deducted - and possibly a tax refund.

You will need some Revenue Stamps from the Post Office for the form. I can'tt remember how much these cost, may be someone else has a better memory than myself.

You will need complete another DT-Individual form in the future for your state pension.

Is your current pension a Government Service Pension (received by retired UK civil servants, armed forces personnel, NHS staff, teachers, local government employees, police etc.)?

Regards,

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Post: #7   PostPosted: Fri May 17, 2019 5:14 am Reply with quote
nhowarth
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Location: Erimi, Limassol

 
Hi Murch

I see that you do have a government pension. Last year a new double taxation treaty was signed by Cyprus and UK under tax on Govt. pensions would be paid in the UK.

However, changes to that agreement last December allows you to choose whether to pay tax on that pension in the UK or Cyprus.

You can read more about this at
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.

You will need to work out which is the best option for you - Cyprus or UK.

If it's Cyprus you need to write to HMRC as described in the above article.

Regards,

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Nigel Howarth
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Post: #8   PostPosted: Fri May 17, 2019 6:22 pm Reply with quote
Murch
Joined: 25 Oct 2011
Posts: 131
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Location: Uk & Xylofagou

 
Thank you everyone for your help. Will try and get my head around it

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Post: #9   PostPosted: Fri May 17, 2019 6:27 pm Reply with quote
Mr Tibbs
Joined: 14 Apr 2011
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Post: #10   PostPosted: Fri May 17, 2019 8:46 pm Reply with quote
scottie
Joined: 01 Feb 2012
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Location: kapparis

 
Mr Tibbs wrote:

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This made me laugh out loud 😂😂😂
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Local government pension 
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