I don't see it as unfair treatment, unfortunately it's just the way it is that greives me.I don't really think a commercialista will be of much use, however a good cross border accountant would be worth his weight in gold!
Actually Angie and Robert, the argument was over the principle of the matter;The bonifico postale matures over a term, and at the end of the term the amount is tax free. My question was that if I were to take advantae of one such bonifico would I still have had to pay tax on it as it was tax exempt in it's member country, and given that we are in what is after all a common market- ergo, why should I still be taxed in the UK?It's no different to an ISA essentially, the end earning is tax free.I have no objection to paying for services or repaying into the education/ police/ hospitals system. And no, I don't think that people of humble origin should be 'exempt' - that's not what I said at all.I am fully aware of the rules of disclosure, and naturally when a sizeable sum of money is wired into my UK account, I don't mind being questioned about it, as I have nothing to hide - however, I have taken advantage of the fact that I, as an Italian national can invest in such a manner, and I don't see why the IR should have a slice of that when they already tax me on other earnings. So you're telling me that should you sell everything in Italy that you have worked for, and moved back to the UK with the proceeds, you'd be happy to have 40% taken from you under the guise of 'income tax'?Also, double taxation... so you're saying that you still have to pay the UK government income tax even though you are working and living in Italy?
I had a blazing row over the potential to invest in Buoni Postali with a woman from the Inland Revenue.She said that irrespective of where you earn it, if you are a british national then it must be declared. She also added that 'they' don't know if you have an account abroad, which i find very difficult to believe, as Italy is a country which shares tax information with Britain.As has been said before though, the Inland Revenue, know better than to get into complex calculations and litigation over loopholes and clever accountancy, and so as always it is easiest to prey on the simple man in the street, who is in effect pondlife to be beaten with whatever means are necessary as they don't and can't fight back.Ultimately when you pay tex you are in effect bribing the taxman to just stay off your back. I do find them a particularly objectionable breed of government lackey. I do find it impressive that the whole system is by default limits a person of humble origin form rising above their station.This is particularly poignant as since my father's death I have now the need to look at banking in both countries, and realise that I'm between the devila and the deep blue sea - bank in italy and be charged, or move resource to and from the UK and be chraged tax on it. I was looking at perhaps Italian banks with branches here in the UK, where I could effectively have monies in one pot for use in the UK and Italy.Oh well..
Comments posted
I don't see it as unfair treatment, unfortunately it's just the way it is that greives me.I don't really think a commercialista will be of much use, however a good cross border accountant would be worth his weight in gold!
Actually Angie and Robert, the argument was over the principle of the matter;The bonifico postale matures over a term, and at the end of the term the amount is tax free. My question was that if I were to take advantae of one such bonifico would I still have had to pay tax on it as it was tax exempt in it's member country, and given that we are in what is after all a common market- ergo, why should I still be taxed in the UK?It's no different to an ISA essentially, the end earning is tax free.I have no objection to paying for services or repaying into the education/ police/ hospitals system. And no, I don't think that people of humble origin should be 'exempt' - that's not what I said at all.I am fully aware of the rules of disclosure, and naturally when a sizeable sum of money is wired into my UK account, I don't mind being questioned about it, as I have nothing to hide - however, I have taken advantage of the fact that I, as an Italian national can invest in such a manner, and I don't see why the IR should have a slice of that when they already tax me on other earnings. So you're telling me that should you sell everything in Italy that you have worked for, and moved back to the UK with the proceeds, you'd be happy to have 40% taken from you under the guise of 'income tax'?Also, double taxation... so you're saying that you still have to pay the UK government income tax even though you are working and living in Italy?
... welcome to Italy
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I had a blazing row over the potential to invest in Buoni Postali with a woman from the Inland Revenue.She said that irrespective of where you earn it, if you are a british national then it must be declared. She also added that 'they' don't know if you have an account abroad, which i find very difficult to believe, as Italy is a country which shares tax information with Britain.As has been said before though, the Inland Revenue, know better than to get into complex calculations and litigation over loopholes and clever accountancy, and so as always it is easiest to prey on the simple man in the street, who is in effect pondlife to be beaten with whatever means are necessary as they don't and can't fight back.Ultimately when you pay tex you are in effect bribing the taxman to just stay off your back. I do find them a particularly objectionable breed of government lackey. I do find it impressive that the whole system is by default limits a person of humble origin form rising above their station.This is particularly poignant as since my father's death I have now the need to look at banking in both countries, and realise that I'm between the devila and the deep blue sea - bank in italy and be charged, or move resource to and from the UK and be chraged tax on it. I was looking at perhaps Italian banks with branches here in the UK, where I could effectively have monies in one pot for use in the UK and Italy.Oh well..