filippos wrote:...Our accountant advised us that we would pay more tax in Greece if the pension was paid gross and subject to Greek tax rates....
Kilkis wrote:I think an important difference is that the UK Inland Revenue knows about income that arises in the UK but the Greek taxman does not. If any part of your UK income is liable to Greek tax and you don’t want it to be taxed in the UK, then the UK Inland Revenue issue you with a form to get signed by the Greek taxman that you are paying tax on that particular income in Greece. This is a UK Inland Revenue form under the dual taxation agreement and is in English. As far as I can tell, if part of your UK income is liable for tax in the UK and you don’t want it to be taxed in Greece then you simply don’t declare it on your Greek tax form. For example, our accountant told us that UK State Pension is a “government pension” and so remains taxed in the UK. He simply did not include it on our Greek tax return. The UK taxman told us that the State Pension is not a “government pension” and should be liable for tax in Greece. This difference of opinion doesn’t really matter. Since we are not declaring it on our Greek tax return we cannot get the UK dual taxation form completed and so it remains liable for tax in the UK.
filippos wrote:Warwick, you don't often come to strange conclusions. Immensely rich? €19,300? That equates very roughly to £13k - about half UK average earnings.
Our accountant's advice is past it's sell by date so I should probably have qualified it. Allowances were lower here when it was given and I haven't re-checked the calculations.
As Margarita has already pointed out, rather unkindly I thought, my current income is zero.
However, you and she are right in one particular. I am immensely old.
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