Spanish tax
Posted: Mon Feb 27, 2023 12:28am
I am considering retiring & moving tonSpain but I am still unsure on what taxes are paid?
I have done a little research and found that the tax is much higher than the UK?
In the UK you have an allowance of around £12,000 before tax deductions, where as Spain only has an allowance of around £5000. I am very confused because whenever you see ex pats living in Spain they are always happy with cost of living, weather, slower pace of life,etc,etc,etc. I have made some calculations with my state pension + company pension and It looks like I would almost pay €9000 in taxes?
I would be most grateful if someone could enlighten me.
Many thanks,
Nashy