Join the San Miguel de Salinas forum
My name's Alex and this is my website all about San Miguel de Salinas in Spain. Register now for free to talk about General San Miguel de Salinas discussion and much more!
Hi all if we move to Spain post Brexit does anyone know how the Spanish tax authorities would treat income derived from a UK Sipp or draw down plan. We lived in Portugal a number of years ago and they treated a proportion of this income as return of capital thus reducing the amount of tax paid considerably, do the Spanish have similar arrangements?
Can anyone advise on this.
Thanks
Roger
Every thing you earn in the UK is taxed in Spain even tax free pension lump sums. Get information from a reliable firm not just a local gestor. Good luck.
My wife, age 55, takes a small income from her SIPP of around 9k Euro pa, Blevin Franks suggested that if she keeps it below 14k drawdown a year she won't pay tax as it's her only pension income at the moment. She took a 25% tfls before we became Spanish tax residents.
I cant draw mine down yet as 51, so I'd be interested in what you find out as I'm yet to complete full analysis of my own.
Annrog wrote on Tue Feb 23, 2021 10:37am:
Hi all if we move to Spain post Brexit does anyone know how the Spanish tax authorities would treat income derived from a UK Sipp or draw down plan. We lived in Portugal a number of years ago and they treated a proportion of this income as return of capital thus reducing the amount of tax p...
Read more...
...aid considerably, do the Spanish have similar arrangements?
Can anyone advise on this.
Thanks
Roger
I can only suggest that contact a tax advisor
I was recently hit by a hefty tax bill
I was told in no uncertain terms " if you live in Spain you pay tax in Spain"
Regards Rob
Posted: Fri Feb 26, 2021 9:29am
Helpful member
Hi
We were recommended a company called Abaco in Torrevieja and they have been very helpful. They are going to be the people we use for taxes as we go forward now as residents of Spain.
We had a meeting with a few advisors but found them most helpful. However have not actually used them yet, but I would definitely say they are worth a free consultation to see what they have to say.
Hope this helps
Sharon
Advertisement - posts continue below
Posted: Fri Feb 26, 2021 10:23am
Pinkshami wrote on Fri Feb 26, 2021 9:29am:
Hi
We were recommended a company called Abaco in Torrevieja and they have been very helpful. They are going to be the people we use for taxes as we go forward now as residents of Spain.
Read more...
We had a meeting with a few advisors but found them most helpful. However have not actually used them yet, but I would definitely say they are worth a free consultation to see what they have to say.
Hope this helps
Sharon
Hi Sharon,
Many thanks for that we will give them a try.
Roger
Pinkshami wrote on Fri Feb 26, 2021 9:29am:
Hi
We were recommended a company called Abaco in Torrevieja and they have been very helpful. They are going to be the people we use for taxes as we go forward now as residents of Spain.
Read more...
We had a meeting with a few advisors but found them most helpful. However have not actually used them yet, but I would definitely say they are worth a free consultation to see what they have to say.
Hope this helps
Sharon
Hi Sharon
I hope it works out for you
My situation is fine now but I wish that I had taken advice when we first came to Spain
Kind regards Rob
Posted: Fri Feb 26, 2021 10:25am
Sue222 wrote on Wed Feb 24, 2021 5:58am:
Every thing you earn in the UK is taxed in Spain even tax free pension lump sums. Get information from a reliable firm not just a local gestor. Good luck.
Hi Sue,
Will keep this in mind.
Thanks.
Roger
Posted: Fri Feb 26, 2021 10:27am
Lancelot wrote on Thu Feb 25, 2021 6:18pm:
My wife, age 55, takes a small income from her SIPP of around 9k Euro pa, Blevin Franks suggested that if she keeps it below 14k drawdown a year she won't pay tax as it's her only pension income at the moment. She took a 25% tfls before we became Spanish tax residents.
I cant draw mine down yet as 51, so I'd be interested in what you find out as I'm yet to complete full analysis of my own....
Read more...
...
Many thanks for your response we are consulting with a tax advisor and we will keep you posted when we get any information.
Roger
Annrog wrote on Fri Feb 26, 2021 10:27am:
Many thanks for your response we are consulting with a tax advisor and we will keep you posted when we get any information.
Roger
Ok
Find more General discussion topics from a particular area:
Or view all General discussion topics in all of Costa Blanca.
