IRPEF Online Tax Return form

[LondonSoo]

Can anyone recommend an accountant to write a one liner on this online tax form, apparently law changed in 2007 and non-residents are required to pay tax on "notional" income on property even if the property is not rented out - online tax return to be filed by July 2008 - has anyone attempted to fill it in themselves? Just need to add a few sums to the ICI and write it on tax form

Any help/advice gratefully received
Thanks

[Mrs Teapot]

LondonSoo,

I wonder if this is what Amanda Lamb was going on about in her 'holiday home horror stories' last week on TV. She highlighted a couple who had registered somewhere as being resident (retired in Italy) who got a shock 4 years later with a bill from the tax dept for Euros 10,000. It was assumed they had possibly rented out all that time. Turned out they had registered as being resident somewhere (Police station was definitely mentioned) but that they had not registered on another form elsewhere.

I would be interested to find out about this tax, particularly if you are a holiday home owner and not a resident. The implications sound worrying.

[forzascalea]

I am going to see my accountant this afternoon to see if we can come up with a simple solution for this. It will probably be a case of filling out the modello unico online at www.finanze.gov.it every year declaring 0 income, I am sure there will be a little to pay.

The form is rather complicated so I want to first clarify the parts to fill in etc... We don't do our own as we have an accountant so I will ask them for the simplest way to do this. The deadline is July 2008 for tax year 2007. Like any tax form (especally those in the UK!) they are hard to understand so its not even a language barrier!

The problem with Italy is that nothing is made easy, and all these rules and regulations change and then nobody knows where they are anymore.

Anyway watch this space.

[MarKel]

Is this the ICI Tax, or a new one ?
Just when I thought I had all the taxes and rates figured out!
Markel

[Mrs Teapot]

I don't know. I wish I did know. Its scaring the leaves out of Mr Teapot. He is hiding in his tea cosy until I find out more. Anyone care to divulge more about the implications of this tax, for a holiday home owner who is not going to rent out their holiday home?

[forzascalea]

I have been trying to get an answer to this with my Friend Egidio Bruno at Agency Services -SCALEA- - Home (bill paying service) and he has found the following:

Taken from this document:
http://www.agenziaentrate.it/ilwwcm/..._pf_estero.pdf

Ok the situation is this (today, hopefully it won't change too quickly):

The need for foreign residents to make a declaration for income on their home in Italy is neccessary if the follow criteria is met:

-The property generates an income (ie is rented)

-The rendita of the property is high enough, the calculation is complicated but basically if your rendita is above 358euro.

The rendita catastale can be found on your deeds or visura catastale.

Luckly for most people the rendita of their property will not arrive at 358 therefore they don't need to make a declaration for IRPEF. However if your property does have a rendita which is 358 or above then you will need to make a declaration for IRPEF and pay the nominal tax (in Italy we are not just taxed on income, but potential income )

You can make the declaration by going to the agenzia delle entrate where they offer assistance to non residents for filling out the modello unico. Or you can go an see a commercialista or accountant (easier but costs money!).

DISCLAIMER
Lastly I want to finish that this information is provided in good faith and I wil not be held responsible for an errors, as it would be impossible for me to be 100% that this is correct as things change every 5 minutes. So if you get any problems as a result of this information, don't sue me basically!

[ENGJMAX]

Thank you David that`s a great help

I have also found my Rendita value on my bill from the Scalea Comune, for ICI tax, they use it as part of working out your bill.

very many thanks

john & family

[ENGJMAX]

Sorry all, thinking about it, it may help if i said

our apartment is 2bed, 1979 built, 55m2 in the centre if town.
The Rendita value is 219.49 so no worries!!

Hope the above helps

Best Wishes to all

John

[cool]

Hi ,,How do you find out what your rendita value is on your property?....Cool

[melanie1]

Hi Cool,

Have a look through your deeds it would state something like this:

'classe 1 - vani 2 - r.c.e .....'(followed by a number)

Regards
Melanie

[jessie]

Thank you melanie,
I couldn't find anything saying rendita but I have now found what you have stated.

The garage seems to be assesed separately.

Jessie

[Mrs Teapot]

Thanks very much everyone for clarifying this. I don't know what the R C E value mean but can I assume it will only affect bigger properties than Engmax's?

[melanie1]

r c e is short for rendita catastale so the deeds should say either of them.

[Di]

Thanks you guys, so very helpful. I had no hope of finding anything on my "deed" but lo and behold, there it was, r.c.e. 180,76. If this was in the States, it would become some sort of status symbol. Clearly and thankfully, we are status-less.