Hello everyone,I'm resident in Italy but earn relatively little, lower than the Italian state pension. That's fine, I have very few outgoings. My income is derived from business generated, invoiced and paid for in the UK.
Very interesting Penny, thank you for replying. So then, if in the arc of a year, Tizio earns €100 the state wants €20 of it and that's all there is to it. Well, the law is the law, they are the ones with the side arms. While I can't justify my stance there are two observations that come to mind: 1) A person should at least be allowed to earn the equivalent of the state pension without fear of extortion. 2) After having dealt with Italian bureaucracy for years I would have no faith at all in their being capable of marrying Uk tax paid against Italian tax due. I recently read a fantastic article on the Uk inland revenue's view on residency, to wit they will bend over well beyond backwards to class a person living abroad as still Uk resident simply so that, as and when, they can clamp their mits on capital gains tax - and of course any other tax that's going. At the end of the day it's just a business like any other the only difference being that they provide neither good nor service.
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The €1k trigger will apply to cash withdrawals from Italian bank accounts as well.
I think the threshold is currently five k and about to drop to one.
Very interesting Penny, thank you for replying. So then, if in the arc of a year, Tizio earns €100 the state wants €20 of it and that's all there is to it. Well, the law is the law, they are the ones with the side arms. While I can't justify my stance there are two observations that come to mind: 1) A person should at least be allowed to earn the equivalent of the state pension without fear of extortion. 2) After having dealt with Italian bureaucracy for years I would have no faith at all in their being capable of marrying Uk tax paid against Italian tax due. I recently read a fantastic article on the Uk inland revenue's view on residency, to wit they will bend over well beyond backwards to class a person living abroad as still Uk resident simply so that, as and when, they can clamp their mits on capital gains tax - and of course any other tax that's going. At the end of the day it's just a business like any other the only difference being that they provide neither good nor service.