Who does your taxes and how?

mike9k wrote:

What is the common approach to fill the tax return here in Malta?

Friends from central Europe said where they are they send all to the tax adviser, he does everything and they even get more time to complete it that way. Is here something similar? The booklet for filling the tax return doesn't mention anything about advantages. Just says complete until 30. June or the tax office will guess it. On page 2 of the return is an option for tax advice reference but that sounds vague.

What's the common approach here in Malta? Fill it every year being concerned about mistakes or getting a paper with advice which might be to vague if your tax adviser isn't specific enough?
Is there a profession here who does the filling or at least creates advices who allow to just copy from them for a single person? If so is there any additional time advantage to it or is it just having someone with more knowledge doing it?

If you have simple finacial dealings as we do, it is easy to do your own. If your affairs are more complicated with UK dividends, rental income etc, then use an accountant here, John Huber is often recommended.
I simply total everything we remit to Malta, divide it by two and fill that amount for both my wife and myself as single individuals. The annual amounts of small private pensions go in one box but are not taxed here. All other boxes get 0 and then do the calculation, job done. If your income is above the limit (about €9,100 ) you will pay 15% on that excess with that percentage increasing the further above you go.
If you are over 61 you also get a rebate of 15% of the amount liable to tax to set against any due tax up to a maximum of around €700.

F0xgl0ve wrote:

If you have simple finacial dealings as we do, it is easy to do your own. If your affairs are more complicated with UK dividends, rental income etc, then use an accountant here, John Huber is often recommended.
I simply total everything we remit to Malta, divide it by two and fill that amount for both my wife and myself as single individuals. The annual amounts of small private pensions go in one box but are not taxed here. All other boxes get 0 and then do the calculation, job done. If your income is above the limit (about €9,100 ) you will pay 15% on that excess with that percentage increasing the further above you go.
If you are over 61 you also get a rebate of 15% of the amount liable to tax to set against any due tax up to a maximum of around €700.

If you sum just up everything you remit are you putting it into "other income" or split into each box?

Uncertainties at the moment are mostly just about where to put the numbers. But it might become more complex in the future.

Regarding getting accountant I'm also curious how much they would do usually. Like if they manage it fully for a single person without costing a fortune, if they would give only a general advice page to attach or if it makes other things easier when using them.

mike9k wrote:

F0xgl0ve wrote:

If you have simple finacial dealings as we do, it is easy to do your own. If your affairs are more complicated with UK dividends, rental income etc, then use an accountant here, John Huber is often recommended.
I simply total everything we remit to Malta, divide it by two and fill that amount for both my wife and myself as single individuals. The annual amounts of small private pensions go in one box but are not taxed here. All other boxes get 0 and then do the calculation, job done. If your income is above the limit (about €9,100 ) you will pay 15% on that excess with that percentage increasing the further above you go.
If you are over 61 you also get a rebate of 15% of the amount liable to tax to set against any due tax up to a maximum of around €700.

If you sum just up everything you remit are you putting it into "other income" or split into each box?

Uncertainties at the moment are mostly just about where to put the numbers. But it might become more complex in the future.

Regarding getting accountant I'm also curious how much they would do usually. Like if they manage it fully for a single person without costing a fortune, if they would give only a general advice page to attach or if it makes other things easier when using them.

I total it up and split equally between my wife and I, as we do the return using the optional separate taxation not the married couple option and as we are both pensioners, it goes in the box for overseas pensions, equal amounts for each of us.
The vast majority of the other boxes are zeros for us with no other incomes or allowances, except when calculating amount owed, as we can then use the rebate allowance for seniors which is explained in the booklet.
If you wish the tax office will assist you and virtually fill it in for you. The office in Gozo is very good.

F0xgl0ve wrote:

I total it up and split equally between my wife and I, as we do the return using the optional separate taxation not the married couple option and as we are both pensioners, it goes in the box for overseas pensions, equal amounts for each of us.
The vast majority of the other boxes are zeros for us with no other incomes or allowances, except when calculating amount owed, as we can then use the rebate allowance for seniors which is explained in the booklet.
If you wish the tax office will assist you and virtually fill it in for you. The office in Gozo is very good.

Ok, thanks that makes sense.
I noticed the tax amount to pay remains the same in my case so it probably wouldn't be that big of an issue if I chose the wrong box for one position and I can still contact the tax office like you mentioned if something comes up.