NHR application without accountant
#16
BE Enthusiast
Joined: Jan 2006
Posts: 360
Re: NHR application without accountant
The situation is country specific.
In general, investment income is exempt under NHR, if it doesn't involve any Portuguese funds, and is taxable in the country of origin (or another country).
In general, investment income is exempt under NHR, if it doesn't involve any Portuguese funds, and is taxable in the country of origin (or another country).
#18
Just Joined
Joined: May 2018
Posts: 27
Re: NHR application without accountant
Thanks for all the responses. If one were to delay establishing residence in PT until 1 Jan 2019 (greedy to get the full 10 years benefit), then to apply for NHR status (for upcoming PT tax year 2019) 3 months later (or earlier if allowed), say by end March 2019, might there be any risk that the scheme had by then been scrapped? There were lots of scare stories about recently that finance minister about to scrap it/amend it. When would the budget speech have to be to scrap NHR for 2019? It seems the 2018 budget was voted on in parliament on November 27 2017, so I assume Nov 2018 will be the date which will determine the fate of the NHR scheme for 2019 and beyond? So get in pre that date if risk averse, else hang on till after if you like living dangerously?
#19
Re: NHR application without accountant
Thanks for all the responses. If one were to delay establishing residence in PT until 1 Jan 2019 (greedy to get the full 10 years benefit), then to apply for NHR status (for upcoming PT tax year 2019) 3 months later (or earlier if allowed), say by end March 2019, might there be any risk that the scheme had by then been scrapped? There were lots of scare stories about recently that finance minister about to scrap it/amend it. When would the budget speech have to be to scrap NHR for 2019? It seems the 2018 budget was voted on in parliament on November 27 2017, so I assume Nov 2018 will be the date which will determine the fate of the NHR scheme for 2019 and beyond? So get in pre that date if risk averse, else hang on till after if you like living dangerously?
#20
Just Joined
Joined: May 2018
Posts: 27
Re: NHR application without accountant
Thanks Loafing Along, so I assume any alteration would be made in the November 2018 budget, which would affect any future applications made in respect of the 2019 PT tax year?
#21
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Joined: Aug 2012
Location: Viana do Castelo
Posts: 1,385
Re: NHR application without accountant
If it is taxed as a withholding tax then it may not be more than 15% and PT has no rights to tax it.
If you sell all or part of your investments and it has a capital gain then the gain can only be taxed by PT as it is a residency based tax. In this case having NHR will not provide any relief and you will pay 28% flat rate tax. This is due to the DTA that states "Capital Gains Tax is only payable to the contracting state in which the alienator is resident".
#22
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Joined: Aug 2012
Location: Viana do Castelo
Posts: 1,385
Re: NHR application without accountant
Most DTA's are virtually copy and paste bar USA and a few obscure ones. It has to be made simple to make cross border trading as easy as possible.
#23
Re: NHR application without accountant
Interesting article in Jornal de Negocios the other day.
https://www.jornaldenegocios.pt/econ...l-com-portugal
The move against NHR coming from other European countries who "resent" the fact their tax payers taking advantage of the scheme. In this case Finland. A question of principle not money according to the Finnish Finance Committee.
This is the type of move I believe poses a greater threat to the scheme than a Portuguese government rethink.
https://www.jornaldenegocios.pt/econ...l-com-portugal
The move against NHR coming from other European countries who "resent" the fact their tax payers taking advantage of the scheme. In this case Finland. A question of principle not money according to the Finnish Finance Committee.
This is the type of move I believe poses a greater threat to the scheme than a Portuguese government rethink.
#24
Re: NHR application without accountant
For the NHR application, do you recommend paying an accountant to do it? Paying a lawyer to do it? Doing it myself?
I’m not concerned about the cost, but would rather do it myself, except if there are important subtelties that I could miss?
Has anyone ever applied for NHR and for it to be declined or have troubled because they did it incorrectly?
thanks!
I’m not concerned about the cost, but would rather do it myself, except if there are important subtelties that I could miss?
Has anyone ever applied for NHR and for it to be declined or have troubled because they did it incorrectly?
thanks!
#25
Just Joined
Joined: Jun 2018
Posts: 2
Re: NHR application without accountant
I'm in the BTL business and applied for the NHR scheme. I almost came unstuck because I confused dates and got approved about 10 days before the deadline. I used an accountant and she arranged everything from applying for my login details, submitting the NHR request (approved), filling by tax return etc. Euros 40. Some online companies try to charge a thousand for ticking a box as that's all that is required. If anyone wants the accountant details, PM me. I've not met her as all was done via telephone and email and she deals with a good few Brits and speaks reasonable English.
#26
Just Joined
Joined: Aug 2018
Posts: 2
Re: NHR application without accountant
I'm in the BTL business and applied for the NHR scheme. I almost came unstuck because I confused dates and got approved about 10 days before the deadline. I used an accountant and she arranged everything from applying for my login details, submitting the NHR request (approved), filling by tax return etc. Euros 40. Some online companies try to charge a thousand for ticking a box as that's all that is required. If anyone wants the accountant details, PM me. I've not met her as all was done via telephone and email and she deals with a good few Brits and speaks reasonable English.
I'm new to the site and am required to have posted publically on the message board at least three times before getting access to the private message feature... That being said I have sent you a message via your blog. Please, can you share details through there?
To anyone else - I'd have a look through Ash Jez's blog, its a really fun read.
#27
Just Joined
Joined: Aug 2018
Posts: 2
Re: NHR application without accountant
Hi,
Did you have any luck finding a reasonably priced an accountant in the end? if so please can you share details? Hope the process went smoothly for you in the end.
Did you have any luck finding a reasonably priced an accountant in the end? if so please can you share details? Hope the process went smoothly for you in the end.
#28
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Joined: May 2014
Location: Burgau Portugal
Posts: 462
Re: NHR application without accountant
Yes it is quite straightforward and you do not need an accountant you need to be able to read Portuguese so suggest you find a friendly Portuguese if your own language skills are not up to it.
There you enter your data, the year you are applying, country of origin for and tick a box.About 48 hours later through the menu "Consultar" - PedidoYou can check your status and there should be a pdf attached to download confirming NHR.
There you enter your data, the year you are applying, country of origin for and tick a box.About 48 hours later through the menu "Consultar" - PedidoYou can check your status and there should be a pdf attached to download confirming NHR.
#30
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Joined: May 2014
Location: Burgau Portugal
Posts: 462
Re: NHR application without accountant
Thank you for the prompt reply Loafing Along.
I just got my good Portuguese - English dictionary out and it does say the verb deferir means; to confer; to grant; to concede.
I should have gone straight to it instead of using Google Translate which says deferred.