This guide is written for landlords, estate agents and property investors. Rules change regularly and individual circumstances vary, so speak to a Tsquared accountant before acting. We regularly help clients with rental income tax and special defence contribution, capital gains tax on disposals, vat on new builds vs. resales.
Key points
- Base cost is value at inheritance
- No inheritance tax in Cyprus
- Probate and transfer steps
- Apply lifetime exemptions
Challenges you face, solutions we provide
Challenge: Rental income tax and Special Defence Contribution
Our solution: Rental accounts prepared and annual TD1 returns filed with every allowance claimed
Challenge: Capital gains tax on disposals
Our solution: CGT computations with inflation indexation and lifetime exemptions applied before you sell
Challenge: VAT on new builds vs. resales
Our solution: Correct VAT treatment confirmed before completion, including the 5% reduced rate
Challenge: Short-let (Airbnb) reporting
Our solution: Tourism registration, platform income tracking and VAT thresholds monitored for you
Challenge: Agency commission accounting
Our solution: Clean commission bookkeeping with client-money reconciliations and VAT returns
Frequently asked questions
- Selling inherited property: what's the short answer?
- Inherited Cyprus property is valued at the date of death for capital gains purposes, so heirs often pay little or no CGT if they sell soon after inheriting.
- Can Tsquared help with selling inherited property?
- Yes. We advise landlords, estate agents and property investors in Cyprus on selling inherited property and handle the filings for you.