Living part time in Spain - Page 6

Thankyou. Need to have yet another serious think. Knew I’d pay PHI but taxing my small pension 😞

Hope I can still proceed 🤞

Impossible to answer properly without knowing your age and amount of income.

Under 65, you can have up to €13115 without paying tax.

65 or over is €14265.

It's because there is more than the personal allowance. 

As well as the personal allowance, the amount of which depends on your age, there is another €2000 allowance just for having earnings-related income e.g. a pension, and an earnings-related allowance which varies between zero and €5565, depending on the amount of your earnings-related income.

Now that we have a functioning government, it's possible that there may be some changes to the figures for this or next year.

I'm looking for someone to take over the position of tax adviser on this forum - any volunteers?!

Oh Jim, dont think anyone could take your place!! You have such big shoes to fill. I am so glad you have come onto this thread too. I was so puzzled re Ray,s earlier reply and maybe he could become your successor but you,d have to train him well , it could take some time!!. I,m sure Carol will also be thankful for your reply as thats a huge differrence.

Thanks again

Pauline.

Thankyou Ray 

Hi Carole, thanks for that. Would you like me to make your night as well?!

You've got to submit a tax return for your first year of fiscal residence, even if no tax is due, and that gets you in the tax system as resident. That means you no longer have to pay non-resident tax on the property.

For any future years where no tax is due then you don't need to submit a return.

Hi Carol, glad Jim made your day, I hoped he would see this post as I knew you were very disappointed with Ray,s reply. Hence my reply asking him to explain as Jim had told me differrent. Ray wasnt wrong ,he too is full of good info, just wasnt the full story. Good old Jim he came on with the full answer and now you can proceed with your plans, but must do it before December before income requirements change.

You wont do any tax returns in Spain until a year after your first year of residency, always 1 year behind, so not yet. You will need your PHI, and may need to have a sum of money in a spanish account. Your income is ok for residency but some offices demand a sum (often 7000€ or even 9000€ in the bank and often there for 3 months. Each office for residency seem to make up their own rules so suggest asking at the office you,re applying in.

Good luck

Regards

Pauline.

Think I might celebrate!! 

Thankyou so much Jim,Pauline and Dave for all your replies of advice

Much appreciated