Advice from any Brits paying tax in Greece please

Forums Dealing with Greece Formalities Advice from any Brits paying tax in Greece please

This topic contains 18 replies, has 10 voices, and was last updated by  ThowdCodger 8 months, 4 weeks ago.

  • Author
    Posts
  • #224020

    GreekMags
    Participant
    Neophyte

    It looks like this year we may be paying tax in Greece on our UK income for the first time. Can anyone explain how they do the conversion from £ to euros for your income. Do they base it on a specific date for example? Just wondering to what extent the amount of tax paid is at the mercy of changing exchange rates. Thanks

  • #224021

    The Grocer
    Participant
    Oracle

    Not an expert on this but I believe they will apply and “average” exchange rate calculated from the year…

  • #224060

    GreekMags
    Participant
    Neophyte

    Thanks for this (and sorry for the delay in replying, I didn’t get an email notification). I suppose that is the most logical and fair thing for them to do.

    I’d be interested to hear from anyone who is actually paying tax in Greece on their UK income and can give us any pointers based on their experiences. Especially anyone living in or near Kalamata…

    • #224062

      The Grocer
      Participant
      Oracle

      Drop a PM to “Sundodger” I’m sure he will advise you……He does not come on this site that often now, or pick him up on the Stoupa site……

    • #224085

      elainetucker
      Participant
      Neophyte

      Hi GreekMags

      I work for a law firm in England, over the internet via Citrix, from my home in Lefkada, Greece.  Because the UK and Greece are part of the EU, when earning an income in the UK but actually physically working for the UK firm in Greece means that you can only pay your tax in Greece.  Check with you rlocal tax office in the UK, as I have a Nil Tax Code in the UK and only pay NI there.

      With regard to paying the tax here in Greece and in answer to your question, my Accountant requests that I work out the conversion from £’s to Euros before I go to her to fill out my annual tax return.  The calculation is done on a monthly basis, at the conversion rates set by the  Tax authorities’ approved website.  It is not worked out as an average over the year. She did give me the web address of the specific website where the Tax people get their monthly conversion rates from, but I seem to have mislaid it.   Your accountant should be able to tell you which website it is, but I will ask my Accountant for the name of it again (as I am going to have to do mine again shortly) and get back to you as soon as I can.

      Elaine.

  • #224064

    GreekMags
    Participant
    Neophyte

    Okay, thanks. I will try this.

  • #224066

    the reiver
    Participant
    Oracle

    I suspect you already know “sundodger” but he is under another name on the Stoupa board.  The avatar is the same however.

    :yes:

  • #224068

    the reiver
    Participant
    Oracle

    Follow up to my previous post. On the Stoupa website, http://www.zorbas.de/webcam/camboard look under  “eating and drinking – recipes” and you will find who you are looking for.

    :good:

  • #224069

    sundodger
    Participant
    Homeric

    Hi Mags…I do still have a quick look in occasionally, but up to recently been busy with various projects & also supplying the local expat community with the sort of goodies you can’t do without :yahoo:

    If you p.m. me I will try to give you as much information as possible, as far as I am aware.

  • #224070

    sundodger
    Participant
    Homeric

    Hi – Just tried to sent a message but it won’t send ! Have sent a message with email address – If it works…Damn frustrating !

  • #224084

    kiwi
    Participant
    Aristotelic

    Brilliant, so the lucky sods get to eat your delicious goodies!

    Maybe sjs can enlighten you on how to pm.

  • #224086

    GreekMags
    Participant
    Neophyte

    Thanks for all the replies and sorry if I seem to be ignoring them – for some reason I am not getting email notification of replies despite having ticked this option.

    Sundodger – you may not have been able to pm me as I don’t have an avatar. I did try to add one but my pic is either too big or too small, the slightest change in size moving it from one to the other, and I have no idea how to rectify this. Any suggestions would be appreciated. Anyway, I will send you my email address by pm if that’s okay.

    Elaine – thanks for this, good to know how it all works.

    Riever – now Sundodger has posted I suspect I do know him.

  • #224474

    altohb
    Participant
    Hoplite

    Looks like this is yet another thing that varies from accountant to accountant. My husband’s vocational pension from the UK is taxed here. We get the firm which pays it to provide a letter every year giving the amount in sterling. The accountant then makes the calculation according to the tables quoted. He’s never asked us to diy.

     

     

  • #229881

    nuska
    Participant
    Neophyte

    My accountant bases the conversion of GBP to Euros on the rate it is on 31st December that year.

    My husband pays tax in UK on his pension, and I believe the amount is taken off the tax we pay here (which is a lot).

  • #229882

    the reiver
    Participant
    Oracle

    If you are retired and have no income from Greece then you pay no tax. We pay in the UK and only pay on our house and the luxury car tax, which I understand has been scrapped.

     

    :yahoo:

  • #229883

    Shazzie
    Participant
    Oracle

    We pay in the UK and only pay on our house and the luxury car tax, which I understand has been scrapped.

    OK confusion reigns !!  :unsure:   :scratch:

    What’s been scrapped – house tax, luxury car tax or your actual luxury car ?!?!

    Also what defines a car as luxury – because our car is a luxury to us and it’s only a 6 year old Fiat Doblo !  :wacko:

  • #229884

    the reiver
    Participant
    Oracle

    House tax should be with your accountant now (?).   :yes:

    Any car with engine capacity over 1950cc is “luxury”   :scratch:

    Still got the motor, going for its first KTEO end of next month.

    :bye:

     

  • #229886

    Shazzie
    Participant
    Oracle

    Aha all becomes clear  :good:

  • #229931

    ThowdCodger
    Participant
    Neophyte

    Just to reiterate what I have said before on the Tax problem, under the Dual Taxation Agreement between Greece and the UK, if you reside in Greece for more than 186 days each year, you are classed as a Greek Tax Resident, and are therefore required to pay Greek Tax on ALL your income – from all sources.  You  do not pay tax in both the UK and Greece, but have to apply to HMRC for exemption from paying UK tax.  Been through all this over the last year, and am now having to pay approx. 3 times the tax I would be paying in the UK.  Of course you can always try and keep under the radar, but with “plastic” money, computerisation and other innovations creating a “paper trail”, just be wary.  Hope this helps.

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