Retirement pensions
Posted: Wed Jan 26, 2022 6:25pm
Hi guys, we r hoping to retire to la marina soon and was wondering what u pay ( percentage) on a uk private and state pensions once u become a resident in Spain on their tax system.
It's not just a simple question of tax bands and percentages like in UK so not possible to say with any accuracy but as a very rough guide, and I do mean ROUGH, on the minimum income a single person needs to qualify for a visa (just shy of €28,000) you could be looking at a tax bill of €5-6,000.
kym62 wrote on Wed Jan 26, 2022 6:25pm:
Hi guys, we r hoping to retire to la marina soon and was wondering what u pay ( percentage) on a uk private and state pensions once u become a resident in Spain on their tax system.
If you are UK passport holders and you become a legal resident in Spain you will have to declare all your worldwide income and your taxes will be worked out from that. You will not pay taxes to both countries.
To move over to Spain permanently you will need to apply for a visa from the Spanish consulate. You will need to meet the income and healthcare requirements. The income requirements for a couple would be around€34,000 per annum and you both will need full private healthcare cover.
Steve
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