Vwlf

My husband and I are in the process of buying a house and hoping to move to Italy in the next few months. Our plan is to become Italian residents and only have one home in Italy.

The tax issue has our heads spinning and whilst we are waiting to speak to a specialist advisor I wondered if anyone can let me know what there experience have been in the following areas?

Firstly my husband is planning on retiring and not working he has an army pension that he plans to live off - will he be taxed on this, we have read somewhere that government pensions are not taxed but don’t know if this is true?

Secondly and the one we are having the most difficulty with I own a bridal store that I will be keeping and will be hiring a manager to run it for me. I will need to return to the UK half a dozen times over the year to purchase new stock / work with at the store / carry out due diligence / business reviews etc. I will continue to pay myself a salary. Will my company tax be in UK but my salary tax in Italy? Or because I am the owner and living in Italy will alll tax be due in Italy?

Finally if anyone knows a good accountant that deals with both Italian and UK tax that would be great as we are struggling to find someone.

Geordieborn

Welcome (to the mad house perhaps). Think the first part of your question is answered in this official UK/Italy document - Article 19. Gov pensions taxed in country of origin i.e. for your hubby the UK. The document is very large, but may also point you in the right direction for your other query - good luck!

Ruby2

You might find http://studiodelgaizopicchioni.it/ worth a look.

Donna Noble

Regarding your home, you said;

“ and only have one home in Italy.”

Did you mean,

“ and only have one home, in Italy.”?

Vwlf

Apologies for my lack of grammar. Yes we will are selling our home in the UK, and buying a new home, which will be in Italy.

Donna Noble

OK, so that makes things a lot easier in terms of property taxation. In Italy you only get taxed on second homes (wherever they are in the world), so you won't have to pay any property tax.

GingerFlowers

You will find the articles by these two financial advisers very useful
Financial Advisers in Italy | The Spectrum IFA Group


Obviously, a lot might/will change after Brexit..probably not for the better

GeorgeYoung

As a resident in Italy, you are liable to taxes on your "global wealth". For example, I pay a small tax each year on the value of the house I still own in the UK. Ditto for savings account held there.

I would have thought any earnings for your UK business would be payable in Italy but the business itself would be subject to UK taxation. But I'm a long way from being an international tax expert!