| Bulgarian tax return? |
Author : Gen (---.cable.ubr02.craw.blueyonder.co.uk)
posts : 139
Date : 05-05-08 00:45
I wonder if any of you helpful people can help me...
A few years ago my husband and i bought an apartment in Borovets, and in the last (UK) tax year we received our first rental income. I'm just filling out my UK tax return, but am now wondering if i also need to file a Bulgarian tax return? We are UK resident people and only spend about 3 - 4 weeks in Bulgaria each year, so are not resident there.
The agent we bought from were terrible, and basically didn't offer us any more assistance after we signed the initial bit of paperwork a few years ago, so we've been flying solo since.
We've paid our15% Bulgaria withholding tax, but recently i've read that we should pay additional tax to Bulgaria to bring it up to 24% and in addition should file a tax return in Bulgaria. I understand the Bulgarian tax year is the calendar year, and tax returns should be filed by 15 April, and the tax paid 30 days later (so 15 May). But i don't know if this applies only to Bulgarian residents, or anyone receivng income from Bulgaira?
I'm not asking for free advice and i will not hold anyone in anyway acountable for any infomration that they can offer me, just wonder if there are other UK resident, Bulgairan property owners reading this, who have had more helpful agents than we have?
If you can even point me to a website that can help me i would be exceptionally greatful.
many thanks,
Gen 
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| re: Bulgarian tax return? |
Author : Pamporovo Pete (---.proxy.aol.com)
posts : 10165
Date : 05-05-08 01:41
Come on all you property owners - give the lady some advice - please!
Pete 
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| re: Bulgarian tax return? |
Author : sam (---.nott.cable.ntl.com)
posts : 3675
Date : 05-05-08 18:09
Did your solicitor in Bulgaria explain the tax to you. It may be worth contacting them for advice. Also look on the web might get some help there, Have a look in good book shops as well loads of different ones explaining tax, inheritence ect. Cant help with Bulgaria but this is what we did for our spanish property.
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| re: Bulgarian tax return? |
Author : arron (---.lei3.cable.ntl.com)
posts : 2121
Date : 05-05-08 22:27
Bulgaria and Uk are in dual taxation agreement. You should only pay tax once
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| re: Bulgarian tax return? |
Author : Alpine Angel (---.brnt.adsl.virgin.net)
posts : 339
Date : 05-06-08 03:22
Hi Gen,
I'm sure if you go to mybulgaria.info forum someone will have the answers you need.
Lots of people on there will have done or will be doing the same as you.
Good Luck
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| re: Bulgarian tax return? |
Author : Welshy (167.83.9.---)
posts : 120
Date : 05-06-08 13:14
Ive shares in Spain - yes when a certain UK bank was taken over I still have them &(well the loan notes - to defer capital gains tax). However a Full Spainish tax return has to be done.... its VERY annoying.
And just like the UK self assessment once you start your doing them for life.
Sometimes all the work & hassle involved does make you question if it really is worth it.
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| re: Bulgarian tax return? |
Author : sam (---.nott.cable.ntl.com)
posts : 3675
Date : 05-06-08 20:36
I just pay my solisitor a fixed fee and he does it all for us.
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| re: Bulgarian tax return? |
Author : Welshy (167.83.9.---)
posts : 120
Date : 05-07-08 11:37
Out of interest what is that fee? And as your earning forign income your having to fill out the LONG self assessment form.... how have you got on with that?
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