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Would appreciate assistance. Am almost at the point of becoming a tax resident, at this time I haven't managed to get my overseas assets organised and could by liable for wealth tax. I am not from the UK, can I go elsewhere in Europe (say France) for 6 months or so until I arrange my affairs thus not become a tax resident of Spain or France and return when assets are sorted ie. split with partner. I am over 65yrs.
Posted: Tue Mar 23, 2021 9:08pm
Super helpful member
Assuming you have gained Residency ... your tax residency in Spain will derive from the date of your Legal Residency. That won't change.
But ...
You don't need to fill in the Modelo 720 (declaration of worldwide assets) immediately.
You do the Modelo 720 in the February after you become tax-resident.
... So, if you gained Residency in the 2nd half of 2020, you are tax-resident from 1/1/21, and will fill in your 720 in Feb 22.
Posted: Tue Mar 23, 2021 9:16pm
Legendary helpful member
Hi Denise,
In either France or Spain that won't help. In both countries, you become tax resident once you've been there for 183 days (6 months + 1 day), so if you're currently in Spain and go to France for 182 days (6 months), you become tax resident in Spain; similarly, if you go to France for 183 days you become tax resident there.
Just a thought - and I don't know whether this would be feasible for you - but I wonder where you'd be deemed tax resident, if you split the 365 days of the year between 3 countries, so not exceeding 182 days in any of them?
Kind regards,
Kim
