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Originally Posted by geetee53
Help! We're looking at retiring to Northern Cyprus quite soon but we don't have a clue about taxation - there or in respect of the UK. We're both teachers, and will get teacher's pension plus state pension (eventually) Can anyone tell me what the situation is there? We're coming out in July to look at property.  |
One thing to bear in mind when deciding where to retire to is that Southern Cyprus is in the EU and your pensions can be paid directly into bank acoounts here. Also as far as tax is concerened which you were asking about, if you de-register in the UK you would pay any taxes in Cyprus not it the UK. This means that you would have £10kCyp(whatever that equates to in Euors) allowance per person before paying any tax and after that you would be taxed at 10%. So you would be paying far less tax than in the UK.