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Annual Taxes.
Posted: Mon May 17, 2021 1:29pm
Hi, is it compulsory to do your tax returns every year even though the circumstances haven't changed?
If so is it possible to do them myself?
Thanks in advance.
Posted: Mon May 17, 2021 4:08pm
Helpful member
Anthony31 wrote on Mon May 17, 2021 1:29pm:
Hi, is it compulsory to do your tax returns every year even though the circumstances haven't changed?
If so is it possible to do them myself?
Read more...
Thanks in advance.
Hi Anthony, regrettably yes...every year even despite being no change to circumstances. There are also considerations if the increase or change is no more than a certain %. Not what you asked but useful to know e.g. if any investments went up...but not massively.
There may a slight change in the type of filing i.e. for us this year we will be filing as non-resident tax status due to when we arrived, and next year by the end of June we will be filing as residents e.g. the full 9-yards of global assets.
You can do it yourself, the forms are online apparently, and if you know where to file them..then all good. As it's our first time round this loop I sought my solicitor / Abagado's help which for the 2 of us comes to 120 Euros.
Hope some of this at least helps. Will PM you a link.
Best regards,
Dave ('n J)
Posted: Mon May 17, 2021 6:14pm
Super helpful member
Are you talking about the Modelo 720 declaration of overseas assets, or your income tax return, which are two entirely different things. You are resident, I presume?
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Posted: Tue May 18, 2021 10:19am
DavenJules wrote on Mon May 17, 2021 4:08pm:
Hi Anthony, regrettably yes...every year even despite being no change to circumstances. There are also considerations if the increase or change is no more than a certain %. Not what you asked but useful to know e.g. if any investments went up...but not massively.
There may a slight change in the type of filing i.e. for us this year we will be filing as non-resident tax status due to when we arrived, and next year by the end of June we will be filing as residents e.g. the full 9-yards of global assets....
Read more...
...
You can do it yourself, the forms are online apparently, and if you know where to file them..then all good. As it's our first time round this loop I sought my solicitor / Abagado's help which for the 2 of us comes to 120 Euros.
Hope some of this at least helps. Will PM you a link.
Best regards,
Dave ('n J)
Thanks for your reply, very helpful.
Posted: Tue May 18, 2021 11:16am
Helpful member
What are the current levels of taxation
Married couple with only pensions as income.
Thank you
Posted: Wed May 19, 2021 11:34am
Herefordjack wrote on Mon May 17, 2021 6:14pm:
Are you talking about the Modelo 720 declaration of overseas assets, or your income tax return, which are two entirely different things. You are resident, I presume?
Yes we are residents.
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