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Found 8 results

  1. I have recently become aware of apparent post-Brexit loss of options on what non UK residents can do with any fund in a UK private pension scheme. The only option I am now offered by Standard Life in the UK is a complete cash payout in one go - there is no longer any option for UK annuity purchase, transfer to a drawdown account or anything else of that kind for non UK residents. From my research so far it seems that other UK companies are saying the same. The amount involved for me is relatively small (well under 100K). From what I can see, the following could be my options Take the cash payout in the UK with whatever tax implications (I can work out the normal UK tax due but am not sure how that works through into German tax via the double taxation agreement) Transfer it to a QROPS - I have found a German company that specialises in this. Not sure the implications of this if what I really then want is some kind of immediate Sofortrente or such equivalent to a UK fixed term annuity. Transfer it to an International SIPP - don't know anything much about that .. Similarly as 2) what I really want etc   Any comments, experiences, advice welcome  
  2. Dear Community Members,    I hope you all are well. I did read one old thread regarding tax returns and I am not sure if it answers all my questions specifically so pardon me for initiating another topic.    I basically come from Pakistan I am a working professional and living near to Stuttgart, I came to Germany in Nov-2021 and now I want to file my tax details in hope to get something in return, but for an expat it is little difficult to start with.   I am married with no kids my wife is in Pakistan but I am taking care of her expenses. (what tax class I should fall in is not clear) I am also supporting my parents both are not working my father has retired. (but to support house hold I send money to my brother's account on monthly basis, who then hands over the cash to them , I am not sure if i was suppose to send money directly to my parents but they are heart patients and we just try to support them in every possible manner) From May-22 to mid Oct-22 I did not have the job so the last year was very hard on me and my family financially, I am still paying back the loan which I took during these months in order to give rent and have a minimal living cost. Can that detail be any helpful in order to request for the relaxation in tax if possible?   Lastly I am trying to find someone who could take this all up, I have all the documents and receipts, So can you suggest me a good tax agent who can help me in filling for tax returns?    Thanks and regards, Fahad Farooq 
  3. Elterngeld Income Assessment

    Hi,   I am preparing Elterngeld applicaiton for my wife. She had shares in UK LTD and that company is also closed. I just want to know if income from company shares will be counted in the Elterngeld assessment? Although she did not get dividends.    Just checked on Elterngeld office website and came to know that Income from shares does not fall under self employment.   Do we need to declare that income in the Elterngeld application?   Regards, Warshad
  4. Profit tax on UK property sale

    Jan 2011:  property purchased for 108.000 GBP. The property was my primary residence until Nov 2015. Jan 2016 - April 2017: property rented out June 2017: property sold for 165.000 GBP Income in Germany for 2017: 42.000 EUR Income in UK for 2017: 667 GBP   There was no capital gains tax to pay in the UK. I haven't completed a German tax return for 2017.   1. Do I need to complete a German tax return for 2017? 2. Do I need to pay profit/capital gains tax on the property in Germany? 3. How can I calculate how much I need to pay?   I found the following question and answer which may answer my question, but some confirmation would be nice: https://www.toytowngermany.com/forum/topic/335156-german-capital-gains-tax-on-overseas-property/#comment-3365538 https://www.toytowngermany.com/forum/topic/335156-german-capital-gains-tax-on-overseas-property/#comment-3365824
  5. USt filing for UK Client after Brexit

    Hi simple question, for USt Erklaerung 2021, I had some UK clients from Jan 2021 to Jun 2021, for software services and haven't charged VAT.   Where should i mention that income in USt erklaerung and do I have to fill an additional Zussamenfeldung like I used to do before Brexit with their UK VAT ID? Also what should be written in the customer receipt justifying the lack of VAT payment please?
  6. Received a favourable tax estimate

    I have some property in Germany but am not resident.  The Finanzamt wrote to me out of the blue in July asking me to fill in tax returns for 2015-2020 which I ignored They sent a reminder of course in October   Now I've received an estimate for 2015, with a deadline to pay by 28 Dec 2022.  The estimate is actually a bit lower than the actual tax. I'm quite happy to pay it.   I am assuming in just accepting and paying I'm not making a false declaration.  Is this correct, should I just pay their estimate within the deadline?
  7. Hello, I am a UK citizen resident in Germany. My mother passed away recently and as the sole beneficiary of her estate, I stand to inherit around 300k GBP  and a house worth 330k GBP. So approx 630k. For my situation, my tax free allowance in the UK is 1m GBP. Therefore I do not need to pay any inheritance tax.   It just occured to me however I may need to pay inheritance tax in Germany. I found the below link and it would be 15% on everything above 400k €. https://de.wikipedia.org/wiki/Erbschaftsteuer_in_Deutschland   I also found some threads on here, but considering Brexit, I'm not sure how valid the information is.   So I am hoping to get some advice on what I need to do with regards to calculating and paying the correct taxes in Germany.   The house was purchased in 1974, so I assume it will not be subject to capital gains tax when I sell it.   Cheers
  8. Spouse gift tax

    Me and my wife have a joint bank account in Germany. I am depositing a large sum of money (6 figures) from the UK in to this account. Is there any risk that the tax office will consider this money as a gift to my wife, and then tax it?   I am a UK citizen and my wife is a German citizen.