Retirement to Malta (Gozo)

I moved to Malta 6 years ago , retired with my 2 UK pensions being converted into euros & credited to my maltese bank account ,and pay my tax here I'm Malta , if you pay uk tax you can  ask for duel taxation agreement.

Hello everyone,

Please note that some off-topic posts were removed.

Cheers,

Cheryl

Expat.com team

We have our pensions paid in GBP still into UK accounts as only now with the current State Pension increase do I have to pay tax and that is a small amount. My wife's pensions are below the £12570pa allowance and HMRC wrote to her and said they no longer required a self assessment return from her.

That means we can simply bring money across as required and at the best possible exchange rate and try and remain below the tax threshold here which is just under €20,000 between us. We always finish up over this but then there is also an additional allowance here for senior citizens which always, so far, removes us from the need to pay tax.

Tax return for both of us here takes about 30 minutes to fill in and as long as your financial affairs are straight forward then it is very, very easy.

If  you have your pensions paid in GBP into an UK bank , you need to have a UK address,  it can get complicated  if you don't have one .

If you have your pensions paid in GBP into an UK bank , you need to have a UK address, it can get complicated if you don't have one .
-@DP4

We have our pensions paid into our UK banks , we do not have a UK address.

If you are a non resident in the UK you can open  a

" Buisness Bank   Account " in the UK,  at any central bank.

If you are a non resident in the UK you can open a
" Buisness Bank  Account " in the UK, at any central bank.
-@DP4

The question was regarding pensions not opening a business account.

The person is receiving  2 UK pensions , presumably  being paid into a BANK ACCOUNT,  either in the UK  or Malta ?  & is enquiing  where the tax should be paid ????

If you have your pensions paid in GBP into an UK bank , you need to have a UK address, it can get complicated if you don't have one .
-@DP4

Unfortunately that is incorrect, my wife and I each have UK bank accounts and both are registered to Maltese addresses!

FOxg10ve... then you must be using a UK address   for your UK bank account ????

FOxg10ve... then you must be using a UK address  for your UK bank account ????
-@DP4

Why?

FOxg10ve... then you must be using a UK address  for your UK bank account ????
-@DP4

I was quite clear in my post, the bank accounts are registered to our Maltese address, we do not have a UK address.

They are both mainstream high street banks and all communications,  card deliveries etc. are to the Maltese address.

As F0xgl0ve say many UK banks have no problems maintaining accounts for those with Maltese addresses and they also mark you as not being UK resident for tax purposes. Can confirm same with mine.

Harder to open NEW accounts in this manner, but if you had ones before you can often keep them and update the bank address. 

My neighbour has a bank account with Santander Bank UK and paying her tax over there. With online banking many banks accept customers who reside outside the UK.

I am retired and currently receiving 2 pensions in the UK. If I come to live on Gozo will I need to pay tax locally or carry on as I am, paying tax in the UK?
Thanks,

Keith
-@keithbarry

if you pay your tax in the UK you still have to complete a tax return here as it's the law.