UK Expats in Italy and Brexit Update – Finances & Tax After Brexit ❤️

UK Expats in Italy and Brexit Update – Finances & Tax After Brexit
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Assets Post-Brexit Italy – Pt. 5

Assets, Money and Tax in Italy.

How will Brexit impact on these vital elements that could affect your dreams of an Italian lifestyle?

Watch this video to learn how UK expats in Italy could benefit from certain tax rules and little-known cost-saving tips.

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UK expats in Italy are subject to tax on their world-wide income (much like UK residents are subject to UK tax), however, there are certain rules and regulations to be aware of in Italy that are either not the same as in the UK, or are totally different to what goes on in the UK.

Plus, there's one aspect of finance concerning Brexit that's nothing more than scaremongering, but which you can profit from.

To find out more, watch this video to the very end.

In the meantime, to ensure your finances work as tax-efficiently as possible to enjoy la dolce vita, would you like access to an ongoing collection of news, reports, resources and courses on working and living in Italy?

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There are 3 aspects of assets, money and tax to consider:

1. Firstly, to ensure you don't pay tax on the same income in both countries, Italy has a double-taxation agreement with the UK.

However, to ensure you get the benefit of this, you should arrange to have your tax affairs in both countries dealt with by a qualified accountant in the UK, and a tax adviser or business consultant (commercialista) in Italy.

In the UK, there's guidance from HMRC on the following subjects:

(1) If You Leave the UK to Live Abroad;

https://www.gov.uk/government/publications/banking-insurance-and-other-financial-services-if-theres-no-brexit-deal/banking-insurance-and-other-financial-services-if-theres-no-brexit-deal-information-for-people-living-in-the-eea

and
(2) The Tax on Your UK Income if You Live Abroad;

https://www.gov.uk/tax-uk-income-live-abroad/taxed-twice

and
(3) Paying Income Tax in Italy.

https://europa.eu/youreurope/citizens/work/taxes/income-taxes-abroad/italy/index_en.htm

One thing to always bear in mind is that tax rules change - sometimes for better, but mostly for worse!

It's usually always worth appointing a professional to look after and administer your tax affairs, for three....

(1) At the time you become resident for tax.....

Assets, Money and Tax after Brexit.

Brexit will likely not change any existing double taxation arrangements for UK nationals living in Italy.

However, there could be changes to the cost of using, for example, credit cards, or the transfer of money between the two countries, but be wary of claims that such financial transactions will become much more expensive if the UK does leave the EU.

There's a lot of scaremongering going on in the UK by the various Remain groups and political parties to justify reasons for the UK to stay in the EU.

However, such claims are without foundation, as there's one way in which bank charges, for example, can be greatly reduced irrespective of whether the UK leaves or stays in the EU.

We use a brilliant service to substantially reduce bank transfer charges, details of which are at:
http://bit.ly/ExpatEssentialsTransferWise

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UK Expats in Italy and Brexit Update – Finances & Tax After Brexit

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