Income Tax on Pensions
Posted: Thu Dec 29, 2022 11:28am
Hi,
Just interested to know how the income tax is calculated for pensions ? how much is the allowance and the rate after that please.
Thank You Dave
Posted: Thu Dec 29, 2022 11:59am
Super helpful member
You might find the following link helpful:
It's not that simple I'm afraid.
Unlike UK where you have defined bands and rates the system in Spain is quite convoluted with different tax bands and rates for region and central government plus tax on some types of income can dependent on the age at which you began to receive it.
While I'm not saying it's impossible for individuals to do their own tax returns in the first instance at least, for the majority it will be necessary to employ either a good gestor or an accountant.
Posted: Thu Dec 29, 2022 4:32pm
John123456 wrote on Thu Dec 29, 2022 11:59am:
You might find the following link helpful:
Thank you, that's just what I was looking for, just the basics as I have no investments or capital gains . The allowance is a little lower than UK but manageable
Dave
Posted: Thu Dec 29, 2022 4:38pm
Darro wrote on Thu Dec 29, 2022 3:31pm:
It's not that simple I'm afraid.
Unlike UK where you have defined bands and rates the system in Spain is quite convoluted with different tax bands and rates for region and central government plus tax on some types of income can dependent on the age at which you began to receive it.
Read more...
While I'm not saying it's impossible for individuals to do their own tax returns in the first instance at least, for the majority it will be necessary to employ either a good gestor or an accountant.
Thank you Darro, I just wanted some basic information for now, but when I do make the move I will obviously have to dig deeper and find the professional help I may need once I know my incomings and outgoings, very helpful to know so thank you
Dave