Paphos People

Does anyone know where you get the form from to get your pension taxed in Cyprus rather than the UK?

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'It's more than performance it's Transformance'


http://www.transformanceinc.com

Hi Andrew have a look at this website

http://www.blevinsfranks.com/

if you contact them they should be able to advise you.

You can download the standard form from http://www.hmrc.gov.uk/cnr/dtind_sweden.pdf.

Having completed it take it along to the Cyprus Inland Revenue office along with all the usual information that bureaucrats here require (ask for Mrs Anastacia Lambrou) and it will sent to the UK Inland Revenue. This will register you for taxation in Cyprus and within a month or so, you will be disconnected from the UK taxation scheme and receive a rebate for overpaid tax.

You will have to declare your estimated income in Cyprus in July and pay whatever tax is owed in three installments before the year end.
In the New Year (which reminds me I should work out my own figures for last year) you will receive a form on which you declare your actual income, which should be close to what you have estimated.

You are also required to separately declare the interest received on your world wide savings accounts (if you have investments see a financial advisor). You can either do this once (in January) or more times a year and pay the Defence Contribution tax owed on that amount. Don't forget to tell your bank(s) to pay your interest free from tax or you will end up paying two lots of tax. If you delay declaring your interest receipts you will be charged interest on the tax owed.

well done KG .

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REACH 1000`s of PAPHOS CUSTOMERS EVERY DAY FOR A FRACTION OF WHAT THE OTHERS CHARGE
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Whilst the optimist and the pessimist argued that the whisky glass was either half full
or half empty ? .
I drank it .....
The opportunist..

In depth answer and informative also, the form is awesome and would take most people a morning to complete.

The word sweden in the title threw me for a minute..

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Straight talking, no Gimmicks.

Live your dreams.

I registered for Cyprus tax a couple of years ago, and yes, it took a while to fill in the form, but I found Mrs Anastasia very helpful at the Tax Office in Cyprus. I think it took about 3 months to get my refund from the UK, but it gave me great pleasure to receive it! First tax rebate in over 40 years - about time too

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Jean

Retirement - harder work than working - But much more fun

Thanks KG, we will look into that. Your help is appreciated.

Andrew and Tiggy

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Life is what you make it.

Helen

When we contacted the UK regarding our Tax being transfered to Cyprus we were told that once you complete you can no longer get benefits in the UK, if that is so I would recommend anyone to think twice.

Our frind who has lived in Cyprus for 15 years told us of her neighbour who had returned to the UK for heart surgery he was then billed and told that if he did not pay his UK state pension would be used to pay off the bill.

Now what I'm saying is that the above is what we were told last summer regarding the phone call to the IR; the story of our friends neighbour I cannot vouch for although I have no reason to doubt our friend.

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John S

Good post KG

Be aware that all signs are in Greek. It would be helpful to you if someone who has been before went with you to find the office.Its on the left hand side of the building as you face the front. I think it was room L201.

Anastacia was very helpful and friendly, we had a good laugh by the time we finished. Just keep a smile on you face and relax

The only problem we had was with the UK inland revenue who basically didnt do anything until I rang 4 months after I had sorted out the Cyprus end. They actually told me they were busy and didn't do anything until we complained - brilliant.

Also, the taxation year in Cyprus runs from January to December as opposed to April to April. The UK inland revenue paid me by cheque for the period Jan to April 08 and I am still waiting for the refund via the pension company from April until present day (I am expecting it now, otherwise more phone calls)

Good luck

Mike

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Mike

While I have no reason to doubt what John says about UK entitlement, if you are permanently resident in Cyprus i.e. for longer than 185 days in a year, you are *required* to pay tax in Cyprus, regardless of whether you pay tax elsewhere. The reciprocal agreement only comes into play once you apply for it - and by registering with the Cyprus tax office you will become detached from the UK system. You are also required to register with immigration when you have been here for three months.

Had John's pensioner friend with the heart problem applied for a Cyprus medical card (based on the E121 he was entitled to as an emigrant pensioner) he could have obtained an EHCR card from the General Hospital which would have provided the emergency medical care he required in the UK. He could also have had routine medical treatment in Cyprus.

However, you may still obtain medical treatment in the UK for up to (without looking it up, I believe) 2 and a half years. After that you lose your entitlement to routine medical care in the NHS - unless you return permanently to the UK (when I believe there may be some transitional requirements - details are to be found on line).

John is quite correct in that emigration is not without potential issues, in terms of taxation, health care (particularly for pre-existing conditions) and availability of benefits. Care in old age is something also to consider as the provision here is even poorer than in the UK, and it's bad enough in some areas there. Far too many people don't appreciate the potential problems until after making the move. Moving to Cyprus is not like moving to Bournemouth. So do indeed think twice if any of these issues affect you.