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Cyprus tax plans

Gordon76

I have done a bit more digging and could someone please tell me if these observations are correct


1)  As a Cyprus tax resident your UK Government pension still rises each year as per the triple lock arrangement ?


2) If you opt for the 20% Cyprus tax rate one year , then you can if you wish change that for the 5% in the following year -----  and visa versa ?


Or put another way --- you can choose which Cyprus tax rate you pay each year ?


EU update


Have you guys noticed how stormer is now getting the UK ever close to the EU ?


Sort of like stage 1 of getting rid of Brexit without another referendum --- wonder what Charlie thinks about it ?


Could it be possible that stormer will look to revise or cancel double taxation treaties to try to stop the exodus of wealthy people now leaving the UK in droves and at an increasing pace ?

Toon

Yes


Yes


And good .. better for everyone closer ties.. but without being an EU member .. id rather have my EU citizenship returned...  but that's my personal choice . Am no fan of Starmer but I think he's doing the right thing...


Who is Charlie..?


And again personally Not really bothered about dual taxation...

rgray27

@Gordon76

Hi - my understanding is that regarding pension income you can elect for either the flat 5% or using the personal allowance (20,500 euros I think) and the prevailing tax rates in any tax year, and you can switch year on year. You can calculate the break-even point to check what's best for you in any given year. UK state pension indexation is protected due to the reciprocal arrangements (how long the triple lock will last is anyone's guess).

Toon

Currently 19500 euros each per annum . They have agreed to increase it to 20500 but hasn't been activated yet maybe next year orv the year after..


You can elect tax level method each year to that which suits you

Gordon76

@Toon

Charlie is the monarch


And his queen has no doubt informed him that Farage will soon become the next PM following the landslide recent council results where Labour got absolutely hammered coming in 4th place in many elections as Reform got a massive landslide majority vote .


Plus more importantly the queen can see that his and her subjects have had enough of stormer and the damage that he is doing .  First a rubbish India deal that will see hundreds of thousands of Indians taking UK jobs and the reversing Brexit without a mandate to do so.


Expect many more  Labour  MP's to leave now and switch to Reform --- a 'no confidence vote' could be only days away depending upon the outcome of the ' male models'  linked to the recent fires , one a Ukrainian and one a Romanian .

Toon

He's doing the right thing period.. doing what he can to get uk out of the hole of a hugely damaging divisive decision .


Charles is not my monarch

And as you can guess I am not a patriot. 

telf

Hidden away in the manifesto and still very much part of the agenda of the Labour pensions minister (Bell) is taxing all pension income generated from U.K. companies as well government pensions


Even Stopping inflation increases to expats on state  pension (difficult to do for those living in EU countries -  a benefit of EU previous membership)


Bell was named as the tenth most powerful left-wing figure in the UK.  Bell has previously advocated for radical pension tax reforms – such as moving to flat-rate pension tax relief and capping the tax-free lump sum at £40,000


I attended a lecture a ten years ago where he advocated the typical champagne socialist idealogy that all wealth should be taxed and all inheritance exemptions abolished


He is very much the architect of  the plan in forcing U.K. pension funds to invest into government infrastructure projects and bonds with fund managers having no choice but to- so someone else gambling with your money to further political idealogy 

SimCityAT

@Toon
Charlie is the monarch
And his queen has no doubt informed him that Farage will soon become the next PM following the landslide recent council results where Labour got absolutely hammered coming in 4th place in many elections as Reform got a massive landslide majority vote .

Plus more importantly the queen can see that his and her subjects have had enough of stormer and the damage that he is doing . First a rubbish India deal that will see hundreds of thousands of Indians taking UK jobs and the reversing Brexit without a mandate to do so.

Expect many more Labour MP's to leave now and switch to Reform --- a 'no confidence vote' could be only days away depending upon the outcome of the ' male models' linked to the recent fires , one a Ukrainian and one a Romanian .
- @Gordon76

Local elections are completely different to general elections.


Reform didn't do that well, and people will soon find out that they made a mistake in voting for them.

Toon

@SimCityAT

No substance to Reform they have no answers to any of the issues troubling UK.. if they had they would have done much better and they  haven't and aren't...



"Nice" to see saviour Farage take a holiday at a time when he should ve been voicing Reform and his constituents concerns... He has form...lots of it


Anyway have a good day

SimCityAT

@Toon

And don't forget about Tice, deputy leader of Reform, the party who is against immigration, and where does he spend 3/4 of the year? At his home in Dubai. You really couldn't make it up.

jonathonkennard

Hi regarding tax implications for cypriot resident, single and not permanently here yet so coming and going I don't spend more than 183 days in a year period  don't rent out my property or work here lil in the cypriot bank what are the tax implications etc

charles533

@Toon

Hey big boy, long long time no speak. Everything seems to be concentrated to your side of the island so I shut up.

Like your "political" words.

Tax,---- I am keeping a completly low profife. It is completly a new world now compared to us. (hahaha)

Take care and call when free.

Toon

All good mate..moved house since we last met..but still in the same village..  off to Crete for a break  soon... Defo visiting east side in October might manage a long weekend a tad earlier too. ... However other half wants a long  weekend in Malta so we shall see


Speak soon my friend gan canny and look after yourself

charles533

@Toon

No tell the "other half"  Crete please. Howaay, see you when you get back.

Toon

It's defo Crete ...Malta Weekender is for later in year ..we lived there for 6 years so might be nice to go back to see it again..

Gordon76

@phildraper

Phil


( & anyone else that has ended their UK ISA accounts )


I remember you saying that you got rid of you ISA's

Presumably these were cash ISA's , and presumably you invested these in NS&I Income Bonds


Did you do this because you found out that as a tax resident of Cyprus you could not open up a new fixed term cash ISA ?


I know that you can retain your existing UK ISA's   BUT  , when they revert to a low paying easy access ISA paying around 1% at the end of the term ---- then did you discover that you could not get another longer ISA term at a batter rate ?


cheers

gordon