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Message posted by Homesick on 24�May�2006 at 2:00am - IP Logged Legal Disclaimer

Homesick

Corfu

Just thought I would share our experience with you, so as not to make the same mistake .

We purchased our property in four names.i.e. parents and my wife and myself. When we came to submit tax return in corfu this resulted in a problem. Due to the bank from where the funds came from in corfu being in my name only, thus only one pink slip which has been submitted with our tax return and leaving parents with the problem of not being able to prove that the funds being used to purchase their 50% was not earned in corfu!!!

We are currently awaiting the outcome of this little problem...

Message posted by Terry and Julia on 24�May�2006 at 8:46am - IP Logged Legal Disclaimer

Terry and Julia

Corfu

Thanks for sharing that with us. I am sure it is something that will not occur to many of us so thank you for bringing it to our attention.

JUlia

p.s. Please let us know the outcome.

Message posted by IrishBarry on 24�May�2006 at 4:34pm - IP Logged Legal Disclaimer

IrishBarry

Corfu

Yes that sounds messy,did you pay for the property in one installment yourself, or did all four chip in, if that is the case they will have to get letters from the U.K banks where the money was originally withdrawn from, sounds a right nightmare.
Best of luck
Barry

Message posted by Dave and Kerry on 24�May�2006 at 4:42pm - IP Logged Legal Disclaimer

Dave and Kerry

Corfu

a way around it for future buyers is a bank account in all names who are party to the purchase!

homesick...best of luck in sorting out the problem.

did you send your money via a bank or through a company ? if it was the latter then the paper work will prove that the money was contracted to be sent from the uk....as it was in our case.

Message posted by Homesick on 25�May�2006 at 12:17am - IP Logged Legal Disclaimer

Homesick

Corfu

Dave and Kerry, our accountant advised us that the best way to have done it, would have been to have had two bank accounts for each couple as he tax return is done in couples.

Irish Barry, we can prove that the the funds came from two seperate bank accounts in UK, but then transfered to one to make the transfer easier to Corfu.

Julia, Will find out on Thursday what is to happen next!!

Message posted by IrishBarry on 25�May�2006 at 2:22am - IP Logged Legal Disclaimer

IrishBarry

Corfu

That should help but it sounds like a lot of paper work, and red tape but I hope you get it sorted out as you do not want the Greek tax man on your back!
Good luck
Irish Barry.

Message posted by Homesick on 31�May�2006 at 12:47am - IP Logged Legal Disclaimer

Homesick

Corfu

Things not looking good on the tax front at the moment, we are possibly looking at �5200 tax bill. Parents going to tax office on wednesday with accountant...

Fingers crossed!!

Message posted by acharaviguy on 02�June�2006 at 10:49am - IP Logged Legal Disclaimer

acharaviguy

Corfu

Hi,

When we purchased our property nearly 2 years ago we weren't told you had to pay tax or prove that the money used was earned in the UK. We are just trying to get it sorted now, do you think we will have a lot to pay!!!!!!!! Any help will be much appreciated. Andy

Message posted by Graham T-A on 04�June�2006 at 1:27am - IP Logged Legal Disclaimer

Graham T-A

Corfu

Quote: Originally posted by acharaviguy on 02 June 2006

Hi,

When we purchased our property nearly 2 years ago we weren't told you had to pay tax or prove that the money used was earned in the UK. We are just trying to get it sorted now, do you think we will have a lot to pay!!!!!!!! Any help will be much appreciated. Andy

Did you transfere the money from the UK to a Greek bank? If so you can still get a 'pink form' to show that it came from abroad. If there is no proof it seems like you pay between 20 and 40 percent of the purchase price

Message posted by Dave and Kerry on 06�June�2006 at 5:00pm - IP Logged Legal Disclaimer

Dave and Kerry

Corfu

Homesick..any news on the tax front re your property?

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