Spanish Tax Return Query
Helpful member
Hi, just wanted to know if UK expats resident in Spain that do the Declaracion de Renta have to declare what savings they have in the UK?
Thanks in advance for any advice!
Helpful member
Hi, just wanted to know if UK expats resident in Spain that do the Declaracion de Renta have to declare what savings they have in the UK?
Thanks in advance for any advice!
Posted: Thu Apr 25, 2019 5:25am
Legendary helpful member
For the tax return itself, you only need to declare income, which obviously includes interest on savings accounts, share dividends, etc.
If your savings have a value of €50,000 or more, you need to do an informative return on a Modelo 720.
Posted: Fri Apr 26, 2019 3:26pm
Hi
Sorry to but in but please may I just check that all residents have to complete a tax return on any income, property in Spain and in Uk? Why in Uk and how much tax do you pay? Sorry but I wasn’t aware of this before and it might affect any decision to move to Spain permanently. Many thanks
Posted: Fri Apr 26, 2019 3:35pm
Legendary helpful member
If you're resident in Spain then you must do a tax return detailing all of your income, irrespective of where in the world that income comes from.
Some types of income are only taxable in the UK but have to be declared here, in a separate section of the tax return, and can effect the rate at which other income is taxed.
The only exception is that if, having once done an initial return, no tax will be due in subsequent years, then you don't have to do returns.
Posted: Fri Apr 26, 2019 4:07pm
Okay many thanks, at least it makes sense now.
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