Brexit Update - The Chat

[Dominic]

I've copied this thread so the chat can continue in politics.

[Dominic]

I've copied this thread so the chat can continue in politics.

[ApusApus]

Is this a New York New York moment?


Shane

[tyelaw47]

In answer to Mike Strand re Defence Tax and MEU3,I would assume that if you have Cypriot residency then of course you will be liable for Defence Tax.I doubt you can have your cake and eat it!

[kingfisher]

The changes made two or three years ago by the government of Cyprus [to attract more high net-worth individuals], altered the position of my wife and I [who are NOT high net worth individuals!], in respect of the Defense Contribution.[Tax].
Previously we had had to pay 10% tax on interest on savings held offshore.
After filling in the form of declaration of country of domicile [UK in our case, at least for another three years, as the exemption only runs for seventeen years], we have not been required to pay the levy.
So in short, it is not residency but domicilary which counts. Unless the MEU3 contains a new declaration of country of domicile, I can't see why that should change.

Jon

[tyelaw47]

Hmm you could be right Jon but I think it is a very grey area and maybe I was too quick to assume however do you not think that because a MEU3 is completed you are confirming your intention to reside permanently,or long term in Cyprus and are therefore changing your domicility because of that intention?

[Rita Sherry]

tyelaw47

HMRC takes the view that British subjects residing overseas and holders of British Passports are still domiciles of the UK unless and until said people take on a different nationality. Nothing in the proposed new agreement with Cyprus changes that stance as far as I can see.

Rita

[tyelaw47]

Thank you for that Rita.

[Rita Sherry]

I have just posted in the General Section information and a link to a document recently issued by the Cypriot Ministry of Information relating to "residency rights for UK Nationals and their families living in Cyprus" which, in my view, is a very clear and concise document. I thought it more appropriate for the General Section as possibly it will be viewed by more people than access the Politics section but should Dominic deem it to be more appropriate in this section I have suggested he move it here. It is 12 pages in length but easy to read and follow and most helpful.

Rita