Tax on Pensions.. - Page 3

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Tax on Pensions.. - Page 3


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Old 27th June 2019, 08:55 AM
David_&_Letitia's Avatar
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Originally Posted by mikensue26 View Post
Am I correct in saying tax forms are completed in July for the current year starting Jan 1st to Dec 31st.
Many of my friends here usually complete two returns as you have suggested - one in Jul for the period 1 Jan - 30 Jun using an interim exchange rate, and one in Jan for the period 1 Jul - 31 Dec using the official average exchange rate as promulgated in the Tax Office at the end of each year. When done this way, the official exchange rate is applied for the whole period and may result in an adjustment of the amount owed overall against the amount paid on account in July.

My returns are done through my tax consultant, and like Nigel, they are only required once a year for the period 1 Jan - 31 Dec. Returns are done now online (due before the end of April and payment is also done online via JCC, due before the end of June). Iím not sure if the new requirement to file all Cyprus tax returns online with effect from 2019 means that those who submit 2 x 6 monthly returns must now submit an annual return.

I have 2 x service pensions (one is for 25 years Royal Marines service and the other for 17 years Army service). Proof of pension income is provided by the annual P60s which I receive from Equniti every year. As I am taxed in Cyprus, my P60s indicate a NT UK Tax Code (ie No Tax).

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