Plusvalenza (or capital gains
Submitted by Penny on Fri, 05/18/2012 - 13:22In reply to A newbie all over again! by Annec
Plusvalenza (or capital gains tax) in Italy is at 20% on the profit made at the time of sale. I can't see how it would be collected from the sale of your UK property, unless you voluntarily declared it. You need specialist advice from someone who deals in cross-border taxation regarding your partner owning 50% by deed of trust.
We have friends who live
Submitted by Andiamo on Fri, 05/18/2012 - 15:23In reply to A newbie all over again! by Annec
We have friends who live overseas but whose UK house which they rent out is now owned by a 'company' ie themselves for tax reasons, but by being a company it apparently has many advantages - I've no idea what! I wholeheartedly agree with Penny and would suggest you speak with a tax consultant who knows about cross border taxation and who should hopefully give you up to date and accurate advice. Both UK and Italy are tightening up on tax collecting and changing the rules so I would seek expert advice sooner rather than later.