Tax law

French succession tax is a tax on lifetime gifts as wells as on inheritances. The tax is payable by the recipient depending on the value received and the degree of kinship with the deceased or donor. If the donor or deceased is resident in France, French succession tax will be payable on their worldwide assets. French assets are always liable to French succession tax regardless of where the deceased or recipient is resident.

See Also:  France, Tax law

Date Published: 16:17, 16 September 2008

Your tax liabilities in Italy will depend on whether you are considered resident or not. If you remain resident in the UK you will only be liable for tax on your Italian source income. If you become resident in Italy then you will be subject to tax on your worldwide income.

See Also:  Italy, Tax law

Date Published: 01 August 2008

Britons living abroad tend to open an offshore bank account to help with their banking arrangements. You will also need to open a local bank account in your country of residence, but if you retain financial transactions in the UK, or wish to benefit from higher interest rates, then an offshore bank account can be an asset.

See Also:  Tax law

Date Published: 01 July 2008

HM Revenue & Customs (HMRC) has published its draft legislation covering changes to the taxation of non-domiciles and the counting system for determining tax residency. This counting issue could affect those expatriates who spend much time in the UK.

See Also:  Tax law, UK residency

Date Published: 01 April 2008

Moving overseas can be an ideal opportunity for tax planning so that you minimise the amount of tax you pay in both the UK and your new overseas country. Tax avoidance should not be confused with tax evasion. Tax avoidance is legitimate and involves arranging your affairs in the optimum way so that you minimise your tax bill. Everyone has the right to do this. Tax evasion, on the other hand, is illegal. It involves the deliberate omission of income, gains or assets on your tax returns, or where you fail to submit tax returns where these are due.

See Also:  Tax law

Date Published: 03 January 2008

The repatriation of funds is a very comprehensive topic and I’m constantly surprised to hear how many buyers are not completely aware of the process and what it involves. Basically, it means to move money from one country to another or, in this context, to sell a property overseas and transfer the profit back to your home country.

See Also:  Tax law

Date Published: 02 January 2008

Until recently, access to the French state healthcare system (the CMU – Couverture Maladie Universelle) was available to everyone resident in France

See Also:  France, Tax law

Date Published: 02 January 2008

If you are resident in Portugal you are liable for Portuguese tax on your worldwide income and capital gains. If you are not resident in Portugal you are liable for income tax on your Portuguese income and capital gains on your Portuguese assets. Particularly for capital gains tax purposes, there are various exemptions.

See Also:  Portugal, Tax law

Date Published: 01 November 2007

The Spanish inheritance rules are similar to the rules in many continental countries. This is because most continental countries have adopted what we call the civil law system, which has its routes in Roman law and which was later modified and adapted by Napoleon and then exported to all of the countries that he conquered - a large part of Europe. Even many of those countries he did not conquer voluntarily adopted the 'French' system when they were established as independent states in the 19th century.

See Also:  Spain, Tax law

Date Published: 01 July 2007

It is possible to be resident in more than one country at the same time. For example, if your main home is in France then you will be tax resident there even if you spend less than six months there. You might commute on Sunday evenings, returning to France on Friday evening, in which case you may find that you are spending more than six months in the UK (or more than 90 days on average over a four-year period) and are both UK and French tax resident.

See Also:  Tax law

Date Published: 01 June 2007