More Brexit implications

TonTri wrote:It's been like this for a while and isn't due to Brexit other than the UK is no longer in the EU.

Paul Uden beat me to it

Ha ha, sorry. And I appreciate you're a Brexit supporter, but to say this is not due to Brexit other than "the UK is no longer in the EU" is a bit odd. That's the very definition of what Brexit is - no longer being in the EU - so it is very much an impact of Brexit for UK holiday home owners like villabreaks. They will pay their non-resident income tax at a higher rate and no longer be able to offset any expenses. Before Brexit they were treated more favourably as EU members.

Shouldn’t worry too much about the extra 5% tax,unless you’ve got a massive mansion ,ours is going to be about €6.50; a year more,that’s for a 3 bed 2 bath detached villa. We’ll have 2 pints less a year to pay for it.

suzi wong wrote:Shouldn’t worry too much about the extra 5% tax,unless you’ve got a massive mansion ,ours is going to be about €6.50; a year more,that’s for a 3 bed 2 bath detached villa. We’ll have 2 pints less a year to pay for it.

If your income tax is less than €30 a year you are definitely not renting it out like villabreaks. We have that type of property and used to pay nearer €1000 a quarter in season when we rented. In the scheme of things an extra €500 or so is not huge (a few days income), but it's more than 2 pints.

Some deffo political answers being given here.

How do you differentiate something has happened cos we arent in EU anymore, rather than Brexit? Surely its the same thing! We arent in the EU anymore because of Brexit!

Paul Uden wrote:

TonTri wrote:It's been like this for a while and isn't due to Brexit other than the UK is no longer in the EU.

Paul Uden beat me to it

Ha ha, sorry. And I appreciate you're a Brexit supporter, but to say this is not due to Brexit other than "the UK is no longer in the EU" is a bit odd. That's the very definition of what Brexit is - no longer being in the EU - so it is very much an impact of Brexit for UK holiday home owners like villabreaks. They will pay their non-resident income tax at a higher rate and no longer be able to offset any expenses. Before Brexit they were treated more favourably as EU members.

Very true, UK not in EU because of Brexit ..

Jonnno wrote:Some deffo political answers being given here.

In the minds of some on here, they are the, more than reasonable, extreme right and the rest of us, communists

Paul Uden wrote:

suzi wong wrote:Shouldn’t worry too much about the extra 5% tax,unless you’ve got a massive mansion ,ours is going to be about €6.50; a year more,that’s for a 3 bed 2 bath detached villa. We’ll have 2 pints less a year to pay for it.

If your income tax is less than €30 a year you are definitely not renting it out like villabreaks. We have that type of property and used to pay nearer €1000 a quarter in season when we rented. In the scheme of things an extra €500 or so is not huge (a few days income), but it's more than 2 pints.

True,we are not renting out,but unfortunately our tax is not 30e a year,as 6.50e is 5% of 130e, but still not enogh to worry about. As i've posted in other sections,stop banging on about Brexit,its happened,we can't alter it,we just have to live with it,lets re adress it in 4yrs. time not 4 months as it is now,it could be better it could be worse who knows.

suzi wong wrote:....As i've posted in other sections,stop banging on about Brexit...

No!

It seems that you want to sweep it under the carpet but, it needs to be aired frequently so that the mistake can be reversed as soon as possible.

suzi wong wrote:

Paul Uden wrote:

suzi wong wrote:Shouldn’t worry too much about the extra 5% tax,unless you’ve got a massive mansion ,ours is going to be about €6.50; a year more,that’s for a 3 bed 2 bath detached villa. We’ll have 2 pints less a year to pay for it.

If your income tax is less than €30 a year you are definitely not renting it out like villabreaks. We have that type of property and used to pay nearer €1000 a quarter in season when we rented. In the scheme of things an extra €500 or so is not huge (a few days income), but it's more than 2 pints.

True,we are not renting out,but unfortunately our tax is not 30e a year,as 6.50e is 5% of 130e, but still not enogh to worry about. As i've posted in other sections,stop banging on about Brexit,its happened,we can't alter it,we just have to live with it,lets re adress it in 4yrs. time not 4 months as it is now,it could be better it could be worse who knows.

I agree about the 'stop banging on bit'. The OP asked about the impact of Brexit on property rental tax which is a fair question and was answered early in the thread. As for your maths, an increase in the tax rate from 19% to 24% will, all other things being equal, increase your tax bill by 26% not 5% (i.e. 5/19ths). For someone renting that could easily amount to €5-600 over the season when you take into account the zero deductibles too.

Glassfull wrote:

suzi wong wrote:....As i've posted in other sections,stop banging on about Brexit...

No!

It seems that you want to sweep it under the carpet but, it needs to be aired frequently so that the mistake can be reversed as soon as possible.

Not a cat in hells chance, so dream on.