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Accountant - advice needed

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Whirlygiglife

Hello,

I am moving to Malta in April where I will need to become a resident as i will be working out there.

I will be renting my flat in the UK out and I wanted to get an accountant to help with this to ensure that I comply with all tax and financial obligations i will have.

My partner is looking at either being self-employed or setting up his own LTD company in Malta, he would need an accountant to help him with this

The question I have is should we get an accountant in Malta or the UK? Or should we get a UK accountant for the flat we will be renting in the UK and a separate accountant in Malta to deal with my partner future work plans.

Thanks

Hilda

See also

The tax system in MaltaWhere is the best place to pay my UK wage taxes?Non residents income tax filingDo pensioners from UK have to pay Tax on their Pension in Malta ?Tax return for non dom
GuestPoster566

Just to say, I rent our house in the UK and manage that myself through my agent and complete my own self assessments via UK HMRC which has the online tool for doing so (very easy).
SA here is straightforward also.
However, this person is the one to contact for better advice. John Huber. He is the expert in many matters.

Whirlygiglife

Brilliant thanks.

Do you have to pay tax on you UK properties in Malta? If not do you need to declare it at all?

GuestPoster566

You will only pay tax here on money that is earned here or remitted to Malta. My income from my property is paid into UK bank and remains there so the answer is - no.
We have no choice regarding our UK occupational pensions; the tax for them is paid to UK but not to Malta, though paid into Malta accounts.

Extract from my article at top of page that also includes Residence and Health information.
I suggest you read it:  /forum/viewtopic.php?id=370643

Registration for Income Tax.

Everyone is required to register for Income Tax if you are resident on Malta.  In general, individuals are considered to be resident in Malta if they spend more than 183 days in a calendar year in Malta. (Whether you are liable to pay any tax will depend upon your circumstances.)

Quote:
An individual, who is either resident in Malta or domiciled in Malta, but not both, is subject to tax on income arising in Malta, on income arising abroad but received in Malta, and on capital gains arising in Malta. Individuals who are neither resident in Malta nor domiciled in Malta (temporary residents) are subject to tax only on income and capital gains arising in Malta.
This includes the use of Credit/Debit cards connected with any bank outside Malta.

Transfer of savings does not (usually) attract tax.

Registration may be done by attending either of the two offices in Floriana, Malta or Rabat (Victoria) Gozo.

Malta:    Block 4, Vincenzo Dimech Street, Floriana.

Gozo:    Enrico Mizzi Street, Victoria.

See here for detailed information:



I suggest that if discussing personal financial issues further we continue by PM, please contact me if you would like to.
Guess, what I'm saying is perhaps you do not need to pay for an accountant, you could do everything yourself.
If you are going to be living on Malta there is an Epat Dept within the Tax Office there and they are more than helpful in these matters.

georgeingozo

I've been using John Huber for 13 years now, and always very satisfied with advice given

ps
"You will only pay tax here on money that is earned here or remitted to Malta. "
more precisely
"You will only pay tax here on income that is earned here or remitted to Malta. "

capital and capital gains remitted to Malta are tax free in Malta for non Maltese citizens

Whirlygiglife

Thanks I will contact John Huber to ensure all is in order. "Nothing certain but death and taxes" as they say, so you don't want to get it wrong!

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