‘We’ve quit Britain for beautiful island three hours away with barely any tax’ | Europe | Travel
Brits are avoiding Dubai and moving to a beautiful island just three hours from the UK where you pay next to no taxes.
Another advantage of moving to a sun-kissed Mediterranean destination is that one of the official languages is English.
The flight from London to Malta’s capital, Valletta, takes just over three hours, where temperatures can soar to 21°C even in November.
That was one of the things that appealed to Louise Burley, 46, who moved from Wakefield, West Yorkshire, with her husband Kevin, 70. The family moved to the village of Ta’ Xbiex.
He also said Times There are many things that make the sun-kissed island feel like home. He said: “They go on the same side of the road, there are red post boxes, there are HSBCs on the corner and there is Marks & Spencer.
“I don’t think we could stand to be in the UK for much longer. We were being squeezed every day… everything was being taxed. We have a few houses that we rent out and there’s little point in keeping them.”
Besides weather conditions, the tax system is another advantage for potential immigrants. The tax residency scheme allows participants to benefit from a preferential tax rate of 15% on foreign income remitted to Malta.
Gains from assets abroad are tax-free; however, there is no inheritance, wealth or property tax to pay. The visa also includes access to legal healthcare.
Malta’s status as a former British colony with similar tax laws means the system is “simple”, according to Jamie Favell of Tax Advisory Partnership, which specializes in cross-border tax planning.
This means many British expats choose Malta over popular destinations such as Dubai, Italy and Portugal.
Malta was part of the British empire from 1814 until it gained independence in September 1964. The island became part of the empire after Britain helped liberate it from Napoleon.
The late Queen lived on the outskirts of Valletta for two years before becoming monarch when Prince Philip was stationed there by the Royal Navy.
The country’s two official languages are Maltese and English, making it easier for foreigners to get along.
When faced with a huge bill to renew his wife’s UK visa, Bradley Thurston made the decision to move permanently to Xemxija, Malta, earlier this year.
There is only one thing that the 54-year-old artist misses.
He told The Times: “He puts his wages in the bank and we live on my money. It’s a no-brainer. We’ll never go back. The only thing I miss is football.”
