Not A Member Yet? See All The Features Of The Forum By Clicking Here To Register For FREE! Or Members Login Below:

Cyprus Eastern Forum Index Cyprus Eastern Forum Index
Offering Free Help, Advice, Tips & Support for those buying or living in:
Paralimni - Protaras - Pernera - Kapparis - Agia Napa - Larnaca - Oroklini - Pervolia - Kiti - Xylofagou
Vrysoulles - Frenaros - Dherynia - Sotira - Agia Thekla - Liopetri - Ormidia & surrounding areas...

 
Main Homepage Cyprus Eastern Forum Index Register Directory Memberlist Search

Ads By Forum Sponsors  

    
Cyprus Eastern Forum Index » Legal Questions & Issues » Double Taxation and where to declare your income
Post new topic  Reply to topic   View previous topic : View next topic 
Double Taxation and where to declare your income 
Post: #1   PostPosted: Wed Aug 29, 2018 7:14 am Reply with quote
Mez
Joined: 15 Nov 2010
Posts: 177
Pictures: 5
Location: Oroklini

 
Good morning,

Despite reading many articles on this Forum, I still find myself bemused by the double taxation and where to declare your income.

Ten years ago when I moved to Cyprus I completed the necessary forms including the DT Form from HMRC. I have my military pension paid and taxed over here. I also have a UK property which I declare on my UK Self assessment form.

It was all going smoothly until I got a job here with a UK firm that pays from the UK. I am now getting taxed at source (UK) for this income.

In order for me to get taxed by Cyprus, HMRC advised me to complete another DT form. And thatís when the can of worms was opened. When I went to the Cyprus tax office to get the form signed they informed me that I had been completing the self assessment forms incorrectly and should have declared my rental income. They have asked me to resubmit all my tax forms again declaring every bit of income even the income I have declared in the UK.

I am now confused as to what I should be doing. It seems silly to have to complete another DT form but is this right?

Sorry for the long winded post but if anyone could point me in the direction of a decent tax advisor/accountant, Iíd really appreciate it.

Mez
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel


Hide These Ads? Register for Free or Login

 
Post: #2   PostPosted: Thu Feb 21, 2019 10:56 am Reply with quote
gazzaga
Joined: 23 Oct 2009
Posts: 96
Pictures: 0
Location: Limassol

 
Hi Mez

UK rental income is liable to tax in UK but as far as I'm aware, the DT agreement only means you will not be doubly taxed in Cyprus on this income. As the rental income is discounted by your UK tax allowance, you should declare the same income here in Cyprus. I'd recommend a gent called Div Bedi who is a UK chartered accountant and also Cyprus registered. He can go back over your UK and Cyprus returns and correct the error. He's a fully qualified accountant so don't expect 'backstreet' rates.

He's helped many of my clieents with similar UK / Cyprus tax issues
Personal Photo Album View user's profile Send e-mail MSN Messenger Cyprus News,Weather & Travel
Double Taxation and where to declare your income 
  Cyprus Eastern Forum Index » Legal Questions & Issues
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
  


All times are GMT  
Page 1 of 1  



  
  
 Post new topic  Reply to topic   
Search Tags: #Double #Taxation #where #declare #income



 Facebook Page    Facebook Group    Our Channel    Cyprus eBay Search    Shopping To Cyprus    Contact Admin   SmartFeed RSS Feed



BUYING PROPERTY IN CYPRUS? PLEASE ENSURE THAT YOU SEEK INDEPENDENT LEGAL ADVICE FIRST.
Cyprus forum covering Kapparis, Protaras, Pernera, Agia Napa, Agia Thekla, Paralimni, Larnaca, Oroklini, Pervolia & surrounding areas
Please note that the views expressed on this forum are those of the author and may not reflect the views of the management.
* Problems Logging In? Click To Contact Us | Powered by phpBB © phpBB Group Design Style: VTrushkin | View Lo-Fi Version