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Expat Brit
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Hi,
I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
TJM @ Eindhoven, NL
T. Dog |
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Irish crisis - effects on small business?
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Hi all,
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Thanks,
Kate |
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Jersey vs. Malta??
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Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!
Mary |
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Living in France contracting to Australian company
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I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD.
Do I pay tax in France or Australia or both ?
Any help or guidance would be much appreciated.
France move |
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website planned to be sold off shore in the future
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i'm a EU citizen, living the US, planning to start a website with the goal of selling it within a couple of years. how should i structure it to avoid paying taxes on the sales profit? maybe a holding or trust in a low tax country owns the US company? should i change my domicil - where to? - when the time comes to reap the benefits? i would be grateful for any advice. thank you for much.
j. frank |
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Lithuanian Tax
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I am going to work in Lithuania for approximately 2 years.
I will be a self employed person (Freelancer) working on a construction site.
I have tried to calculate the taxes that I will pay but I am totally confused as each website I visit tells me something different, and this includes the Lithuanian tax website.
I know I will pay income tax (15% of taxable income) but do not undertsand the level of social tax and health tax I will need to pay. Some websites say there is a limit(10% of 50% taxable income for social taxes as well as 9% health tax, some like yours say 37.5% (Is this on taxable income or total income?)
Please can anyone advise
William |
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Confused...
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I'm moving to Singapore next year, but not sure what kind of visa my wife needs - she's not planning to work initially, but once our youngest is school age (in a couple of years), might return to book-keeping.
Also, any thoughts on the school system (re the aforementioned little one)? There's loads of info out there, but any personal experiences would be welcome...
Cheers,
Charlie |
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Late Payments
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Hi all,
Just wondering if anyone had any tips on getting clients to pay up in a timely fashion?
Am a freelance writer, with a number of regular gigs with online and offline publications, but, with a couple of exceptions - which have just about kept my head above water some months - they're all pretty awful at paying up on time. The payments trickle through eventually, but often not without pushing from me.
It's really getting me down, and may well end up sinking me financially. So...what do you do?
TIA for any help!
Roger |
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Woking Overseas
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I am not an Irish citizen but have been based in Ireland for many years. For the last 6 years I have worked overseas (outside EU) only spending max 6 weeks holiday a year in Ireland. For the time I have been overseas I continued to make an Irish tax return and there was no liability to foreign tax. It is possible that I will secure a 2 year contract overseas that will substantially increase my income. This new contract will require that I pay local income tax. What can I do to minimise Irish tax liability? It may be possible to have salary paid in a double tax agreement location if this would help.
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Foreign Contract
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I am looking to set-up as a sole trader in Ireland. One of my clients is an American company paying into my Irish account for work done. Do I have to pay taxes in both countries, or how does this work? Help!
M |
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Flat in Switzerland that needs to be sold or rented... but how?
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Hi everyone,
This is a little complicated... a close friend of mine called Jane is in a tricky situation:
Jane's italian mother has just inherited a flat in Switzerland (in the Valais) from her own mother (Jane's grandmother). The grandmother had originally bought the flat in the 70s or so, as a société immobilière or SI - which means it's actually the only asset of a company. It was a legal and popular way of doing things back then, I'm not sure why. It means that the flat doesn't have the name of the owner on it, it's just a company and whoever has the shares (in the form of a paper document) owns the company and hence the flat. So Jane's mother now has the shares of the company, ie the flat.
But Jane's mother doesn't really want the flat and would gladly pass it on to her own daughter, Jane, who is a UK tax payer.
Now the question is: if Jane's mother gives her the shares of the company (ie the flat), how can Jane declare this in the UK? Would it involve inheritance tax, or could it just be a gift?
And if she did this, would she have to pay capital gains tax in both Switzerland and the UK when she sold the property? In Switzerland, she's been told that she would already have to pay 60% on the capital gains in various taxes. If she then had to pay an extra 18% on it, it would defeat the purpose.
The other thing, is that the property costs a lot in fees, charges, maintenance etc, so Jane can't really afford to keep it without renting it. She's looked into renting, but in Switzerland it would seem that taxes on rental are 50% and that she can't offset anything, like maintenance etc against it. Renting it and paying 50% taxes on the income, would still mean that she'd lose out at the end of the year, even if she rented it for the entire year, which isn't allowed anyway since she's not a Swiss resident. Whereas if she rented it as an overseas property and paid the UK taxes (which have some offsetting rules for maintenance etc), she would be able to keep the property.
Can anyone shed any light on whether the Swiss 50% rental tax is applicable or whether she could pay the UK taxes on the rental money only?
And on the issues of whether she can accept the gift of the shares of the flat?
And on whether she'd have to pay capital gains in both countries if she decided she couldn't afford to keep the property and tried to sell it?
I know a lot of questions, and all rather complicated, so any knowledge greatly appreciated by her.
Thanks,
Evie
Evie |
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withholding tax
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I did some work in France recently as a contractor, and my employer deducted 12% tax. Is this right? Since I'm a Brit, shouldn't there be a double tax treaty? Can I claim the tax back against my UK tax bill?
Mark
Mark |
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Sports sponsorship
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I run a small local busines and have been approcahed by a local football team to see if I would sponsor them. In return, they will let me advertise my business on there football strip. As I do my own tax return, can i claim back the money I've given to sponsor them, as its an advertising cost?
Brad Freeman |
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Help please!
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Recently fell victim to the recession (thanks bankers!) and was made redundant. Nothing left to lose, and we've got a little nest egg, thanks to my wife's parents, so am (gulp) thinking of going into business for myself (I'm an IT bod by profession and inclination ;), travelling to clients and working in their offices.
First off, would I be better off as a sole trader? Or maybe a partner with my wife? Or should I form a proper company? Sorry, pretty clueless here!
And secondly - will working in the offices of my clients (sometimes for extended periods) attract the beady eye of HMRC, and make them question my self-employment (or whatever I decide to go for) status?
TIA for any help...
Jonny |
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Cyprus
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