Bluemoon10

Hi Folks,

I have a question for those members who have done or doing their 'Dichiarazione dei Redditti' this year (for 2013) which is due next week.

I have been advised to give details of each bank account held in the UK and the amount in it (regardless of the amounts held in them). However how do you treat ISAs? I have been told by my commercialista that because they are 'investments' rather than savings or current accounts they don't need to show in the RW part of the Dichiarazione as they are subject to their own type of taxation in the country where they are held (UK).

Doe anyone know/has come across a similar scenario? If so, please advise.

Thanks

highlander1

ISA's are a bit of problems for italian fisco, as here a tax free non declarable form of saving is totally alien.

Commercialista's often struggle with that.

Bluemoon10

Thanks Highlander,
If in doubt, should I declare them?

I am thinking - I have two one cash one stocks and shares - should I declare the cash one or both?

highlander1

I think you would have to ask a tax expert that question, I am not one by any mean. You should be clear if there are penalties in the form of ''multe'' for non declaration. IVAFE regulations are not clear ( do not mention ISA's per se ) very tricky one. Hopefully someone else on the forum will know more .
Is this your first italian tax return ?

modicasa

The glimmer of lighton the horizon is that from this year there are no longer sanctions for 'mistakes' made in the filling in of the RW section. What counts as a mistake though .......