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Money matters

Income Tax vs National Insurance

No, really... it does!
But does it matter more in Malta than at home?

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Income Tax vs National Insurance

Postby Shuan007 » Mon 30 Mar 2015 15:40 GMT

Hello All. My first post as a Premium Member, so please bear me.....

I will be relocating to Malta at the end of the year, into the home I bought four years ago but have never yet had the opportunity to live in. I've been planning (dreaming?) of moving for many more years than that. Now, having finally 'got off the merry-go-round' I will be coming to live as a Self Sufficient Resident. Here's my question....finally!

Will I be able to register for a National Insurance number as a self sufficient resident, with no plans to work?

I'm a UK citizen but will be moving to Malta from The Netherlands where I have been living for the past 21 years. I'm hoping that I will be able to register as a tax payer in Malta, rather than in The Netherlands, with it's 52% Tax Rate!!! However the lowest tax band (32%) in The Netherlands is made up of two components (NI equivalent [27%] and tax [5%]) I'm hoping that if I pay my NI contributions in Malta I would be exempt from the 27% I would otherwise pay on my Dutch pensions and other Dutch income.

Can anyone enlighten me?

Thanks in anticipation.....Peter
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Posted by:
Shuan007
Premium Member
 
Posts: 21
Joined: Thu 23 Oct 2014 13:53 GMT
Location: Soon To Be Malta

Re: Income Tax vs National Insurance

Postby gozomark » Tue 31 Mar 2015 21:47 GMT

You can (and must) register for tax in Malta, if you live here for more than 6 months in a calendar year. However you still might be liable to tax in Netherlands on Netherlands source income/pensions, that depends on Dutch law, which you would be best to speak to a professional about.

Registering for " a National Insurance number as a self sufficient resident, with no plans to work" - I'm not sure if thats relevant. I'm self sufficient, dont work, and dont pay NI in Malta
Posted by:
gozomark
Site Admin
 
Posts: 14215
Joined: Sun 20 Aug 2006 18:35 GMT
Location: Republic of Gozo

Re: Income Tax vs National Insurance

Postby Shuan007 » Tue 31 Mar 2015 21:57 GMT

Hello again Mark. Yes, it's a complex business. I will, of course register to pay tax in Malta. Would prefer doing so to paying tax and NI in The Netherlands. I have made an appointment to see John Huber when I come over at the end of the month. So will start the process of 'lining my ducks up' sooner rather than later.

Cheers.....Peter
There's loads more to see and do on British Expat— why not check out our home page?
Posted by:
Shuan007
Premium Member
 
Posts: 21
Joined: Thu 23 Oct 2014 13:53 GMT
Location: Soon To Be Malta


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