Do you pay INPS on rental income?I'm thinking about taking the plunge with Italian residency and wondering if anyone can clear up how rental income is considered as far as INPS goes.
Qualifying for Italian citizenship and BrexitDoes anyone have any information on whether UK citizens resident in Italy would still qualify for Italian citizenship in 4 years (instead of the usual 10 years) after Brexit kicks in?My partner and I ha
Most of the meter boxes near where I live have two different keys, either of which will open the box. One is normally left with the owner, the other is for universal access by the electricity company. If you can’t get the former, it may be worth seeing if the electricity company could help.
After a short while you should find you adapt to the limited power and rarely, if at all, trip the meter. You do have to learn the power draw of major appliances but it becomes second nature to avoid switching on the washing machine if the oven is on, etc.
Thanks, modicasa and Ugo. I’ve come to that conclusion too and will look for a good accountant shortly. In the UK you can have as many rental properties as you like and there’s no requirement to be self-employed as such which avoids the issue of social security contributions (NI, INPS) completely. I read the UK/Italy dual taxation treaty yesterday (in English - yes, I bottled it!) and it’s silent on INPS, I’m afraid, though it does talk about rental “income”.
Thanks, modicasa. Do you happen to know how this would work for overseas properties rented out? The definition of long term contracts doesn’t fit how our UK properties are rented on ASTs. If we become tax resident in Italy, we’ll pay income tax on worldwide income but I’m not sure about INPS, and now VAT, if we would be considered a business.
Thanks Ugo! That's what we were thinking about doing. The problem is that we might end up trying in 4 or 5 years from now only to find out we have to wait another 5 or so years. We wondered if we might have to give up on Italy for now and move to France instead where we know we have a clear 5 years to qualify.
Thanks Steve! I suspect you’re right and no one knows right now. What’s more, I would guess that no one will know how the Italian authorities will view this until the situation is tested 4 or 5 years after Brexit.
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Most of the meter boxes near where I live have two different keys, either of which will open the box. One is normally left with the owner, the other is for universal access by the electricity company. If you can’t get the former, it may be worth seeing if the electricity company could help.
After a short while you should find you adapt to the limited power and rarely, if at all, trip the meter. You do have to learn the power draw of major appliances but it becomes second nature to avoid switching on the washing machine if the oven is on, etc.
Grazie, Ugo!
Thanks, modicasa and Ugo. I’ve come to that conclusion too and will look for a good accountant shortly. In the UK you can have as many rental properties as you like and there’s no requirement to be self-employed as such which avoids the issue of social security contributions (NI, INPS) completely. I read the UK/Italy dual taxation treaty yesterday (in English - yes, I bottled it!) and it’s silent on INPS, I’m afraid, though it does talk about rental “income”.
Thanks, modicasa. Do you happen to know how this would work for overseas properties rented out? The definition of long term contracts doesn’t fit how our UK properties are rented on ASTs. If we become tax resident in Italy, we’ll pay income tax on worldwide income but I’m not sure about INPS, and now VAT, if we would be considered a business.
Thanks, Ugo.
Grazie, Ugo! Quello che dici mi far nascere delle speranze.
Il problema e que tra 4 anni, noi cittadini britannici saremo piu cittadini dell’UE
Thanks Ugo! That's what we were thinking about doing. The problem is that we might end up trying in 4 or 5 years from now only to find out we have to wait another 5 or so years. We wondered if we might have to give up on Italy for now and move to France instead where we know we have a clear 5 years to qualify.
Thanks Steve! I suspect you’re right and no one knows right now
. What’s more, I would guess that no one will know how the Italian authorities will view this until the situation is tested 4 or 5 years after Brexit.