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Sligogent wrote on Wed Nov 1, 2023 5:09pm:
Leave Cash in English Bank account if you have one.
The interest on any monies in an English bank account is still taxable in Spain if you are a tax resident.
Posted: Fri Nov 3, 2023 7:29am
Super helpful member
dc45 wrote on Wed Nov 1, 2023 5:02pm:
I understand that the Spanish tax office will want a substantial part of my prize money. As there is no direct equivalent in Spain, please could someone advise me how I should declare this when I make my 2023 tax declaration (which box) and what rate of exchange I should use for non-euro income. ...
Read more...
...Many thanks.
Keep Quiet about any dealings/prizes from UK. The moment the Spanish Authorities learn of any ''gains'' from UK... they will relentlessly chase you. Our friends are being hounded for 3 Euros... disgusting Country.
Posted: Wed Nov 8, 2023 2:48pm
Helpful member
cilbob wrote on Wed Nov 8, 2023 12:31pm:
Keep Quiet about any dealings/prizes from UK. The moment the Spanish Authorities learn of any ''gains'' from UK... they will relentlessly chase you. Our friends are being hounded for 3 Euros... disgusting Country.
Quite agree. If it were me I would simply squirrel it away somewhere and keep quiet.
Classic man wrote on Wed Nov 8, 2023 2:48pm:
Quite agree. If it were me I would simply squirrel it away somewhere and keep quiet.
agreed
Posted: Wed Nov 8, 2023 4:35pm
Helpful member
How would they find out anyway , tax is already deducted by HMRC's, don't worry , go on a cruise and enjoy it!
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Posted: Wed Nov 8, 2023 5:07pm
Bencr85 wrote on Wed Nov 8, 2023 4:35pm:
How would they find out anyway , tax is already deducted by HMRC's, don't worry , go on a cruise and enjoy it!
All of our "winnings" on Premium Bonds have always been declared on our Renta declarations for years. They are certainly NOT tax free in Spain, only the UK. Your tax accountant will know exactly in which box to place them.
If I recall correctly, NS&I requested our Spanish tax reference number, which is your NIE number, ages ago. They have our Spanish address and they write to confirm the new "winning" numbers which have been reinvested.
All worldwide income has to be declared to Hacienda
Hacienda and HMRC talk to each other. Brexit has not stopped the Double Taxation Agreement which is still in force.
My husband was randomly selected for an audit in 2020 by Haciendas Investigations Department as to his 2016 declaration. They enclosed the listing that they had obtained, direct from HMRC, as to his UK "income". Hacienda, requested certain documents to be sent to them, within 10 days. (They also requested a letter from the Civil Service to confirm that their pension was in fact covered under the Dual Taxation Agreement. A phone call to the Civil Service confirmed they have a ten plate letter specifically for this purpose which they emailed and sent also by snail mail) Hacienda are well aware but you dont argue with their requests unless you want a dine and embargo. Three months later, another letter from Hacienda to say that their investigation was completed and no action was being taken
We are aware of many folk, whom have been requested to do the same.
You ask, how will they know. They do !!
Posted: Wed Nov 8, 2023 5:15pm
Apologies fir the typo. Should have read fine and not dine
Stephanie M K wrote on Wed Nov 8, 2023 5:07pm:
All of our "winnings" on Premium Bonds have always been declared on our Renta declarations for years. They are certainly NOT tax free in Spain, only the UK. Your tax accountant will know exactly in which box to place them.
If I recall correctly, NS&I requested our Spanish tax reference number, which is your NIE number, ages ago. They have our Spanish address and they write to confirm the new "winning" numbers which have been reinvested....
Read more...
...
All worldwide income has to be declared to Hacienda
Hacienda and HMRC talk to each other. Brexit has not stopped the Double Taxation Agreement which is still in force.
My husband was randomly selected for an audit in 2020 by Haciendas Investigations Department as to his 2016 declaration. They enclosed the listing that they had obtained, direct from HMRC, as to his UK "income". Hacienda, requested certain documents to be sent to them, within 10 days. (They also requested a letter from the Civil Service to confirm that their pension was in fact covered under the Dual Taxation Agreement. A phone call to the Civil Service confirmed they have a ten plate letter specifically for this purpose which they emailed and sent also by snail mail) Hacienda are well aware but you dont argue with their requests unless you want a dine and embargo. Three months later, another letter from Hacienda to say that their investigation was completed and no action was being taken
We are aware of many folk, whom have been requested to do the same.
You ask, how will they know. They do !!
All this ''sh** if you are a resident, which we are not ....thank the Lord. We have a fantastic Villa and enjoy the Spanish Sunshine. Thats about all Spain is good for. If we had known then (when we bought our Villa) what we know now, would never have bought in Spain/EU Country. you live and learn eh.
Posted: Wed Nov 8, 2023 6:46pm
Helpful member
cilbob wrote on Wed Nov 8, 2023 6:30pm:
All this ''sh** if you are a resident, which we are not ....thank the Lord. We have a fantastic Villa and enjoy the Spanish Sunshine. Thats about all Spain is good for. If we had known then (when we bought our Villa) what we know now, would never have bought in Spain...
Read more...
.../EU Country. you live and learn eh.
Like you say. If we had known back then what we know now, we too would never have bought in Spain. Far too many reasons to mention here. It is still so third world, even today and the fact that nothing ever seems to get done properly or on time drives us potty.
I just keep doing the Euromillions and hope.
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