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I want to build a property in Crete, I live in London, if I was going to make a profit on the sale, would pay taxes?
I work and live in London, which means they pay taxes here, I want to know if he would build and sell a property in Crete or Bulgeria would pay capital gains tax in that country and then take money here in London, then I will be taxed here. What would the tax on Crete and Bulgaria, where appropriate. thanks Chris
I am not an accountant, but there are two things you can be sure that in this life, death …. and taxes. I can not believe that the tax collector that let you make large sums of money and not pay taxes. First, you get £ 8,000 or more capital gains allowance, so you only have to pay tax on the amount above this. Note that you can not include the financing costs of the eligible costs. in some countries which could have a local tax you pay when you sell, then all, why should foreigners come to a country a lot of money and leave without paying taxes. then when you bring the money back to the UK the Collector here probably derive their allowances and capital gains and then add the net income (less taxes already paid in Crete, etc.) to their remuneration package current and the tax accordingly. that would be my best guess.
Crete Properties. Zaros,3 Traditional apartments