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Post by David H on Jan 23, 2004 21:05:28 GMT 1
I had a meeting with my accountant today  . He said although there may well be ways of reducing or avoiding the issue of capital gains in Croatia, gains generated there are subject to taxation here, when the money finds it's way back into the UK (if you havn't already paid it in Croatia). Has any one crossed this bridge yet? It's seems to be a tricky one. He did suggest that if i were to spend, i think less than 90 days in the UK in the next tax year it might be good to tell the IR that i am leaving the UK for a while freeing myself from income tax; infact any tax! Any thoughts? David |
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Post by Janet on Jan 26, 2004 12:43:51 GMT 1
Yes. Only way to avoid is to do the 90 day thing. Actually 90 days is quite a long time, so it's quite good. It runs April to April but you can carry days over within any 6 year period I think. You have to have proof (although they rarely ask for it) that you are living abroad (called non-resident, which is different from non-domicile - ask your accountant) so make sure you save your residence permit and get stamps in your passport. Does this make sense? You don't get exempted from any tax though. I think you still have to pay tax on any earning paid into a UK account above the tax relief limit (about 4k???) If you get paid in Cro you get taxed in Cro and this is awwwwful as tax is high compared with UK.
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Post by Mario on Jan 31, 2004 14:20:07 GMT 1
You guys are complicating things...... I got a simplier solution for you.....
After 3 years no cgt in Croatia.... Just transfer all your money to Croatia and enjoy!!! haha
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Post by David H on Feb 1, 2004 15:54:37 GMT 1
Mmm... you have to make some money first though(after transfer tax, finance costs and fees x2). Noticed of late there seems to many more properties on the market that don't seem to be moving and more agents getting in the act. Lets hope supply does not exceed demand cos we know what that means. On the bright side 2004 might be good season, property wise and that so called pent up demand is going to kick in  ...... |
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Post by Janet on Feb 2, 2004 9:04:28 GMT 1
I see where Mario is coming from but I heard of some people getting caught trying to bring money into Croatia and getting whopper taxed.
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Post by Mario76 on Feb 2, 2004 18:45:18 GMT 1
I see where Mario is coming from but I heard of some people getting caught trying to bring money into Croatia and getting whopper taxed. What I meant was once you satisfy your tax obligations in Croatia assuming that you would have brought money into Croatia when purchasing your property there should be no problem. Transfering money into Croatia was meant as a bit of light hearted humour emphasising the fact that people get bogged down with crossing the Ts and dotting the Is instead of finding practical solutions whilst remaining withing the legal frame work. |
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Post by Janet on Feb 3, 2004 9:28:06 GMT 1
You're right Mario. There are ways and means always...
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Post by david h on Feb 3, 2004 11:02:24 GMT 1
So what are the 'means and the ways' of returning money to the UK? Have you done it?  |
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Post by Janet on Feb 3, 2004 16:30:53 GMT 1
Er..without incriminating myself...I understand that you can take chunks of about 2 grand in each time you go quite easily.
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Post by architect on Feb 5, 2004 12:49:03 GMT 1
OK thing my nice accountant studies my account statements with his fine tooth.
So i guess we are talking about returning euros in little cash bundles...trouble is you can't spend them without converting at high st. tourist rates.
Any way, like i said before. You have make it first to get taxed it so we will have to see....
Maybe my new friend Mario is right - we should all stop worrying!
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Post by NatterJak on Feb 17, 2004 23:36:32 GMT 1
Lets hope supply does not exceed demand cos we know what that means. On the bright side 2004 might be good season, property wise and that so called pent up demand is going to kick in ...... I think this is quite likely to be the case - witness the surge in interest following the TV programme "A Place in the Sun" shown last week. |
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. He said although there may well be ways of reducing or avoiding the issue of capital gains in Croatia, gains generated there are subject to taxation here, when the money finds it's way back into the UK (if you havn't already paid it in Croatia).
......