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Retiring to LA Marina - Page 3

nicholajames1

Posted: Tue Aug 18, 2020 2:38pm

nicholajames1

Original Poster

Posts: 22

8 helpful points

Location: Rojales

Joined: 17 Aug 2020

Posted: Tue Aug 18, 2020 2:38pm

Stan Bartolome wrote on Tue Aug 18, 2020 1:51pm:

Cheers, Ray...as ever.

So I was right then? Any earnings from rental properties in the UK would be taxable in Spain.

I asked this as the OP appeared to think they wouldn't be liable, given one of their earlier responses to another poster. 

Unless, of course, they're planning on paying all their tax in the UK, hence why I wondered where this left them liability-wise with the Spanish authorities, given that it's a legal requirement for gaining perm resident status to be registered for tax in Spain.

Dave

Thanks all. I was going to continue paying the rental tax in the UK as we would have been selling them about 5 years after moving to Spain. 

jimtaylor

Posted: Tue Aug 18, 2020 2:45pm

jimtaylor

Legendary helpful member

Posts: 5612

8739 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

Posted: Tue Aug 18, 2020 2:45pm

nicholajames1 wrote on Tue Aug 18, 2020 2:38pm:

Thanks all. I was going to continue paying the rental tax in the UK as we would have been selling them about 5 years after moving to Spain. 

Sorry, but you can't get out of declaring the income in Spain.

And when you sell the properties, you will be subject to capital gains tax here.

I suggest you read my tax guides on a tablet when you retire to bed - they'll soon send you to sleep.

Golandrina

Posted: Tue Aug 18, 2020 3:05pm

Golandrina

Super helpful member

Posts: 1663

1227 helpful points

Location: Almoradí

Joined: 24 Mar 2018

Posted: Tue Aug 18, 2020 3:05pm

nicholajames1 wrote on Tue Aug 18, 2020 11:29am:

Hi

We won't be working, we will be retired. 

Thanks

Nic

I don't work, I am retired but I still have to pay income tax!

nicholajames1

Posted: Tue Aug 18, 2020 3:05pm

nicholajames1

Original Poster

Posts: 22

8 helpful points

Location: Rojales

Joined: 17 Aug 2020

Posted: Tue Aug 18, 2020 3:05pm

Thanks Jim. 

With that in mind maybe we should consider selling before we move there. I will read through the guides when I'm alert 😂 to find the best options financially. 

Thanks all for your input. 

nicholajames1

Posted: Tue Aug 18, 2020 3:22pm

nicholajames1

Original Poster

Posts: 22

8 helpful points

Location: Rojales

Joined: 17 Aug 2020

Posted: Tue Aug 18, 2020 3:22pm

Golandrina wrote on Tue Aug 18, 2020 3:05pm:

I don't work, I am retired but I still have to pay income tax!

They get you all way's don't they 😠

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McKeithys

Posted: Tue Aug 18, 2020 3:41pm

Posts: 26

7 helpful points

Location: Rojales

Joined: 31 Jul 2020

Posted: Tue Aug 18, 2020 3:41pm

Hi. Just one thing re Health Insurance - your UK policy will not cover you as a resident in Spain but will as a visitor (my other half has just checked his as we are moving our next month). P.S. Be so careful on the tax thing as it is very complex and as others say they will get you both ways. Good luck with the move :) 

Stan Bartolome

Posted: Tue Aug 18, 2020 3:50pm

Stan Bartolome

Very helpful member

Posts: 356

535 helpful points

Location: Orihuela Costa

Joined: 15 Dec 2017

Posted: Tue Aug 18, 2020 3:50pm

Sorry, Jim.

No idea why I wrote Ray there.

I hope we can still be friends after that terrible sleight on my part...;-)

jimtaylor

Posted: Tue Aug 18, 2020 4:18pm

jimtaylor

Legendary helpful member

Posts: 5612

8739 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

Posted: Tue Aug 18, 2020 4:18pm

Stan Bartolome wrote on Tue Aug 18, 2020 3:50pm:

Sorry, Jim.

No idea why I wrote Ray there.

I hope we can still be friends after that terrible sleight on my part...;-)

Dave, didn't bother me in the sleigtest! In fact, as Ray's the one doing all the good posts these days, I felt flattered.

I wouldn't stop you treating me to a coffee next time you're over.

nicholajames1

Posted: Tue Aug 18, 2020 4:22pm

nicholajames1

Original Poster

Posts: 22

8 helpful points

Location: Rojales

Joined: 17 Aug 2020

Posted: Tue Aug 18, 2020 4:22pm

McKeithys wrote on Tue Aug 18, 2020 3:41pm:

Hi. Just one thing re Health Insurance - your UK policy will not cover you as a resident in Spain but will as a visitor (my other half has just checked his as we are moving our next month). P.S. Be so careful on the tax thing as it is very complex and as others say they will get you both ways. Go...

...od luck with the move :) 

Thank you. I can see I have a lot to learn. 

Stan Bartolome

Posted: Tue Aug 18, 2020 4:25pm

Stan Bartolome

Very helpful member

Posts: 356

535 helpful points

Location: Orihuela Costa

Joined: 15 Dec 2017

Posted: Tue Aug 18, 2020 4:25pm

jimtaylor wrote on Tue Aug 18, 2020 4:18pm:

Dave, didn't bother me in the sleigtest! In fact, as Ray's the one doing all the good posts these days, I felt flattered.

I wouldn't stop you treating me to a coffee next time you're over.

You're on!

If we ever get back over there, obviously.

Pretty much written this year off & I've got a nasty feeling next year might not be any better.

Ho hum. First world problems though & I'm not really complaining because there are millions out there having it far worse than us.

Stay safe.

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