Hi I am with la Caixa bank does anybody know if I have a private pension from the uk paid into my Spanish bank account will I be taxed on this in spain or England .
And also will la Caixa charge me for having my private pension paid from the uk to spain.
Macey21 wrote on Sun Jan 31, 2021 1:28pm:
Hi I am with la Caixa bank does anybody know if I have a private pension from the uk paid into my Spanish bank account will I be taxed on this in spain or England .
And also will la Caixa charge me for having my private pension paid from the uk to spain.
I have 3 private pensions and none of them will pay into a foreign bank account so you need to check that out. Some banks are now charging a fee to accept payments from a UK account. An option is to set up an account with Transferwise Borderless account.
https://transferwise.com/gb/multi-currency-account/
Steve
Posted: Sun Jan 31, 2021 3:37pm
Super helpful member
tebo53 wrote on Sun Jan 31, 2021 2:11pm:
I have 3 private pensions and none of them will pay into a foreign bank account so you need to check that out. Some banks are now charging a fee to accept payments from a UK account. An option is to set up an account with Transferwise Borderless account.
https://transferwise.com/gb/multi-currency-account/
...Read more...
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Steve
Or you can have the pension paid into your UK bank account if you have one, then transfer money to your Spanish account using the Transferwise normal online transfer service. This does not attract the new Brexit fee.
Posted: Sun Jan 31, 2021 3:48pm
I have a non-resident account with Caixa and a local government pension paid in direct each month. As a non-resident, everything is taxed in the UK. So far, Caixa have not applied their new charge schedule to the account - waived with a pension of a certain amount and some direct debits each month (fingers crossed).
Posted: Sun Jan 31, 2021 7:22pm
Legendary helpful member
Hi Macey21,
It's irrelevant whether you have your private pension paid into a UK or Spanish bank; if you're resident in Spain, you have to declare your worldwide assets in Spain and pay income tax here. (The exception to this is 'Crown' pensions, such as Civil Service, Military and some NHS and some Teachers' pensions, although this isn't relevant to your private pension.)
Kind regards,
Kim
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