Reply to: Take home percentage in Holland

[Mich the Tester]

The housing market over here is pretty static; you are unlikely to make a profit unless you have the house for a while, and then it will only be a modest one.

sensible

[Hiram King Of Tyre]

I only said IF I make a profit. I wouldn't touch property with a barge pole in the UK at the moment.

To be honest, my main concern would be not making a loss.

In any event, I would need convincing that buying a property during a short term contract would be a good move

[AtW]

The housing market over here is pretty static; you are unlikely to make a profit unless you have the house for a while, and then it will only be a modest one.

OMG, that's sooo terrible, how is it possible not to make HUGE profits on short term house price speculations!!!

I bet this would never happen under Tories!

[SizeZero]

The housing market over here is pretty static; you are unlikely to make a profit unless you have the house for a while, and then it will only be a modest one.

[Hiram King Of Tyre]

The mortgage tax relief sounds good but I guess not really practical for a 3 or 6 month contract?

If you sell at a profit, do you then pay capital gains?

[Hiram King Of Tyre]

Good luck Tony. Sorry to hijack your thread

[BoredBloke]

Had a call from the pimp - seems they have taken on somebody internally so all bets are off. Thanks for the info folks. Looks like a little longer in Geneva for me then!

[Hiram King Of Tyre]

OK, thanks....I guess that's assuming you don't end up in negative equity!

[Mich the Tester]

I'm at a similar stage. Interview lined up for Thursday for a job in Amsterdam, They are talking circa 500 euros/day.

Is it really worth considering buying a property? How does the tax relief work?

Definitely. If you have a mortgage you can claim the interest back against tax. If the top part of your income is in the 52% bracket (>53,000 euros or so) then 52% of the interest you pay can be deducted from your taxable income. If you’re paying 15,000 euros of interest, as you would on a 250000 mortgage, that’s very useful. There are two ways of arranging the rebate. One is to just declare your mortgage each year on your tax declaration and wait for a payment from the taxman. The other is to apply for a ‘voorlopig teruggaaf’ and get the rebate paid into your account each month.

Setting up an Ltd in Holland is an expensive and long winded process. You should get a BSN number from the tax office once you have signed into the council where you’re going to live. Setting up as a sole trader is easy and cheap, and just involves a trip to the Kamer van koophandel when you have your BSN number and a then a trip to the tax office to get a BTW (VAT) number.

Most people set up as a sole trader first, then change into a Ltd once they have the money (18,000 euros of capital plus solicitors fees).


Don't know about the SIPP, but I know you're allowed to reserve 12% of your before tax profit for pension needs, so it would probably fall under this.

[Hiram King Of Tyre]

I'm at a similar stage. Interview lined up for Thursday for a job in Amsterdam, They are talking circa 500 euros/day.

Is it really worth considering buying a property? How does the tax relief work?

Can you pay into a UK SIPP? Do you get tax relief for this?

[oracleslave]

Have you got a beard?

Cos you talk like a Twunt!

Don't let the facts get in the way of your insults.

[ettubrute]

Regarding contract work in Holland, how do you people run it regarding taxes? Do you register a company in Holland, work through your UK limited, or through an umbrella?

[Fred Bloggs]

I was recently offered what at first sounded like a nice job near Rotterdam on exactly that kind of money. I laughed and put the phone down.

[Francko]

That's a thing I don't get with agents. Why didn't she say that on 450e a day the takehome would be rubbish? If it turns out that on 450 a day I'm looking at 225 a day after tax then there is no way I'll be doing the job.

Is the market in England that bad at the moment? I am curious as to me it looks like in England things are picking up quite well (judging from the ads...).

I think the point of the agent is that nobody can guarantee you will be accepted the 30% rule. I had it on a similar rate as yours but not every foreigner on a similar rate had. I am afraid it also depends on the agent too. On the good side it is retroactive.

[Drewster]

To have a great quality of life in the UK you need to earn tuliploads. Luckily my rate is positively prawnesque in comparison to the pathetic sums in this thread

Have you got a beard?

Cos you talk like a Twunt!