Look Forward 2024 – A Promising Year And Leap Into A New World

ProACT Sam Orgill looks ahead to 24 significant events that will mark 2024 as a year for us all.

  1. January 1st sees early tax cuts in the UK starting 2024 in a markedly different way. Political change is in the global wind and this marks the start of an election year of change in the UK.
  2. UK expats will discover this year if the Tory government keep their 2019 election pledge to allow UK expats out of the country more than 15 years the right to vote in a general election?
  3. January 1st also sees Disney Corp technically lose its Copyright to the first 1928 Mickey Mouse Cartoon Steamboat Willie’. In theory anyone can reproduce and use the images and content in the new year. Maybe the start of a year of court battles.
  4. 29th February – 2024 is a leap year so you have an extra day this year to achieve all your wildest dreams. It’s also a chance to put the Sun back in its place. Having realigned it could work out for the best…
  5. 17th December is the latest a UK general election could be called with the last possible date of the next UK general election 25th January 2025. That’s a whole year of political gamesmanship available to all.
  6. 4th March Donald Trump Trial date set in the USA. The trial and even imprisonment would not stop him being elected US president again. It will certainly assure him of a publicly funded platform. Where will it all end, with legal challenges facing Joe Biden too? Boris Johnson born in New York City to an Expat family could technically run for US president.
  7. 17th March Russia General Election – Will anyone stand against Putin? Will anyone vote against him? Maybe not. Ukraine war won’t finish before the election that’s for sure.
  8. 5th November could be a night to go off with a bang. The US presidential election takes place and could take us back to the 80’s with Biden or Trump, or will there be a swing to the 60’s with a new kid on the block.
  9. January 2024 – Romania and Bulgaria could enter the Schengen Zone. Despite passing all the requirements in 2011 Austria and Netherlands have blocked there entry. In December 2023 the Spanish EU presidency is committed to pushing the two countries member ship through in a December EU vote. At the time of writing they have voted them in, but the objections have been ‘addressed’ to Austria and Netherlands satisfaction. Maybe the night before Christmas the gift of membership will be presented. Schengen Zone limits anyone without EU Resident Permit to 90 in 180 Day short stays only.
  10. 2024 Cyprus is pressing to join the Schengen Zone to allow it to fully harmonise with the EU. Having met 5 of 6 requirements a speedy decision from the EU would still be surprising. One issue raised by the process is the Cyprus Golden Visa Scheme which is viewed with suspicion by some governments in the EU. However to bring stability and
    harmony to EU border controls they may accelerate… how that divided island would be represented is another matter.
  11. February 2024 UK expands its newly introduced Electronic Travel authority to include most Middle East States. Qatari travellers have need this since November 2023 and the scheme will be expanded to all visa free travel into the UK, including from EU countries. UK citizens will not need this to travel into their homeland.
  12. 2024 will not see the EU Electronic Travel Authorities as planned in 2022, then 2023. Yet again it is postponed until May 2025. The ‘technical issues’ could also be the confusion potential if Romania, Bulgaria and Cyprus as EU members were excluded from the EU Schengen Zone that will operate the scheme. Electronic Travel Authorities must be received by all visa free travellers before they can check in and cross a border.
  13. EASTER holidays for Catholic Christians 29-31st March
  14. 31st March the start of British Summer Time. Really? The spring equinox is 25th March, half way between mid winter (Christmas) and mid-summer day June 20th (Football Euro’s). What happened to springtime?
  15. EASTER Holiday for Orthodox Christians 3-6 May. That is summer time surely? As long a gap as you can get between the two Easter celebration dates. Easter each year is actually dated based on the first Full Moon after the spring Equinox. That the Roman Empire split after Julius Caesar seized power. The emperor in the west, Rome, and in the east Constantinople led the two churches to move apart with ironically the Rome abandoning the Julius Calendar for Greorgian in 1582 making the difference. The lunar month is 28 days leading to the calendar month difference in Easter celebrations this year.
  16. Jun 13 – Jul 14 2024 Is Football month for the EURO 2024 in Germany and Copa America in USA – the biggest sporting events of the year?
  17. 26th July – 11th August Olympic Games in Paris. This could be a bigger sporting event than the EURO’s of football. Also being tooted as a major reason for the 2024 delay in the introduction of the EU Electronic Travel Authorities. How could the EU make things simpler for everyone? Introduce less regulation and rules…. QED.
  18. 8th September – Surely the event of the Year. Ed Sheeran in Concert in Cyprus. Thinking out loud he is one of the top selling musical artists around the world having sold more than 150 million albums. People fall in love with artists in mysterious ways, it’s all part of a plan Cyprus will take him into loving arms and find love right here in Cyprus in front of a thousand stars.
  19. March 2024 any Company or Sole trader in Cyprus must submit audited tax return for 2022 by March 2024. If you haven’t started make a quick start. Plus start collating for the 2023 return. For more information and help and guidance submitting a Cyprus tax return contact us www.proactpartnership.com/contact-us
  20. April 24 Cyprus Tax For All has its first full year and every Cyprus tax resident with ANY worldwide income will be required to submit a Cyprus tax return of worldwide income in 2024 for the calendar tax year 2023. Will the online submissions be delayed again? We will see. Tax returns for individuals are due by July 2024. For more information and help and guidance submitting a Cyprus tax return contact us.
  21. January 24 UK tax returns for 2022-23 are due for expats online by 31/1/2024. Anyone asked to complete a UK return or with any taxable income in the UK should make a return. For more information and help and guidance submitting a UK tax return contact us.
  22. April 24 onwards. UK tax returns for 2023-24 are due for expats online only by 31/1/2025. Anyone asked to complete a UK return or with any taxable income in the UK should make a return. This includes UK capital gains from investments and crypto sales, UK property rentals and UK property sales. For more information and help and guidance submitting a UK tax return contact us.
  23. April 2024 – UK taxable income starts to align for sole traders and those using a personal service company (PSC) Until this year a trading period ending within a tax year was used as the taxable income at the tax year end, April 5th, ie all income was deemed earned on that date. Going forward actual income to the end of the tax year becomes taxable. If using a PSC or rental company for example, you will have to assess part income from two years of financial statements in your annual tax return. This is best tackled by aligning trading year ends to the tax year. For more information and help and guidance submitting a UK tax return contact us.
  24. July & Dec 2024 Self assessment of income and flat rate taxes due for current year 2024 income is due with tax paid online under the Cyprus Tax For All system. For more information and help and guidance submitting a Cyprus tax return contact us.

Sam Orgill
ProACT Partnership
Tel: +357 26 819 424
[email protected]

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