Brexit and Fiscal Representation

By Advertiser, in Profiles · 07-02-2020 01:00:00 · 0 Comments
Brexit and Fiscal Representation

After three years of uncertainty the UK has now left the EU! UK residents with Portuguese assets will now have to appoint a fiscal representative to comply with the law.

EU residents can opt to have their tax department correspondence (including their property tax bill) sent to their EU address but non-EU residents, without a fiscal representative, have their correspondence retained by the Lisbon tax office.
Non receipt of the property tax bills can lead to non payment, the incurrence of fines and penalty charges and eventually the property being seized by the tax department to be sold for debt recovery.
Equally any notifications from the tax office generally require a prompt reply within 10-15 days. Non receipt of the correspondence may lead to fiscal problems for the individual. The onus is on tax payers to be aware of and to comply with the law so non receipt of the correspondence is no excuse!
A fiscal representative must be appointed to receive correspondence and be responsible for the individual’s fiscal matters in Portugal.

Sovereign is therefore offering a special deal to new UK customers by reducing the fiscal representation registration costs by 50% for those registering with them before the end of March 2020. Registration should be completed before the property tax bills are issued in April.
Since 1999 Sovereign – Cons-ultoria Lda personnel have built a very close relationship with local tax departments and other institutions which enables them to keep up to date with the ever-changing fiscal demands placed on their resident and non-resident clients.
With offices worldwide, the Sove-reign Group can assist clients with all their fiscal queries, aiming to maximize clients’ tax benefits and minimise liabilities.

For further information:
Tel: (+351) 282 340 480
Email: icosta@sovereigngroup.com
Web: www.sovereigngroup.com



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