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About apel

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  • Location Heidelberg
  • Nationality UK
  1. I use CurrencyFair to transfer money from the UK.  https://www.currencyfair.com   They match transactions between users wanting to transfer in opposite directions. It's much cheaper than normal bank transfers, and I find it works very efficiently.   You can either accept the rate offered on the website or nominate your own rate and wait for a match - this can be fun if you have the time and can stand the stress!
  2. German Capital Gains Tax on Overseas Property

    Thanks very much Panda, very clear and helpful as always.   I really appreciate it, even though I don't like all the answers. Still, it's better to know now than be surprised later.     Are you saying that such a loss cannot be used to offset any gain or income of any type? I wasn't aware of that.
  3. German Capital Gains Tax on Overseas Property

    Hi,   I'm resident in Germany, and thinking of selling my flat in the UK, and I'd like to seek confirmation that I understand the tax position in Germany correctly (or otherwise), with a few extra questions.   I've owned the flat about 6 years, I lived in it for a while, and I use it as a personal base for occasional visits, It has never been rented out, or used by anyone other than myself, family and friends. I expect to make a significant profit on sale.   I think I understand the UK tax position. Under the UK-Germany double tax agreement, the UK has taxation rights, and, as a non-resident in the UK, I must pay UK Capital Gains Tax on the profit, reduced by several deductions. [These deductions are not really relevant to my questions, but if any reader is interested, I can set out my understanding of the UK position.]   I'm aware (from this thread and elsewhere) that the profit from the sale is not directly taxed in Germany, but is included in Progressionsvorbehalt in the year of sale.   Is the amount included in Progressionsvorbehalt the total profit over the full period of ownership (i.e sale price - sale expenses) - (original purchase price - purchase expenses)? Are there any other deductions allowed, as is the case in the UK?  Are all amounts converted from GBP to EUR as at the dates of payment?    I believe that the Progressionsvorbehalt will increase the rate of tax on both my German income and my (German) wife's income.    As I have very little German income, we can presumably elect to be separately taxed - this would reduce the additional German tax on the property sale to virtually nothing, but for that year we would lose the tax allowances for being married. Is that the way it works?   On the other hand, if we are taxed together, and if my wife has a loss on the sale of an inherited German property in the same year, is there any way that this loss can be offset against my Progressionsvorbehalt income?  
  4. What a shame!   I hope your daughter recovers soon, and that you get to make the trip to the UK another time.
  5.   I too have exactly the same package, and I can confirm that this is correct in the UK.   If you're mainly using wifi for data, I'd be inclined not to turn off data or data roaming - I never do. The 1.5 GB data included in the package easily covers occasional data usage, and it can be useful to use data when out and about.
  6.   Yes, and I can confirm that Aldi Talk definitely did not charge me for calls from the UK to UK numbers on my last visit, as they were within my Paket allowance.