Planning on moving to spain - Page 4

kingscliff wrote on Thu Jul 28, 2022 12:32pm:

Hi Laura,

The first thing to do is to contact a Spanish Law Firm who specialise in looking after ex-pats in Spain. I noticed your looking for a work visa, they would be able to advise on this, they would also be able to help with tax implications and wealth tax which is payable in Spain. They could also ad...

Read more...

...vise regarding any pensions you might have and the best thing to do with them, even simple things like obtaining a driving licence that requires you to take the road test in Spanish but I believe the written can be done in English as an option.

We use a firm in Torrevieja and they are worth their weight in gold, the email address is [email protected] 

Relyat wrote on Thu Jul 28, 2022 12:38pm:

I'd be interested to hear about the "wealth tax" that you mentioned. 

I'm not aware of that one. 

kingscliff wrote on Thu Jul 28, 2022 12:52pm:

Hi Relyat,

Please see below some notes I received when I was looking at this.

Read more...

Yes, there is a Wealth Tax payable in Spain that changes per each region. In this region, the tax free amount is 600.000€, there is another tax free amount for the family home of up to 300.000€ and the rights in pension plans are also exempt of Wealth Tax.

As for the Income Tax, there is an Agreement between both countries to avoid double taxation. According to that Agreement if you are a resident in Spain all income you receive from pensions are taxable in Spain (with some exceptions as military or civil service pensions).

If you are taxed at source in UK, you have to reclaim the tax back form HMRC justifying you are a tax resident in Spain. As there are lump sums that could tax free in UK, I always suggest to take those withdrawals before becoming resident in Spain.

Please also remember that any CGT coming from the sale of properties or assets located in UK could be subject to taxes in Spain, so it is a good idea to check if it pays to make any movement with tax implications in that direction before becoming resident here.

Please note the comment regarding tax free elements of pensions, these are liable to tax in Spain.

The region this applies to is Valencia which covers Torrervieja. Hope this helps.

tebo53 wrote on Thu Jul 28, 2022 2:14pm:

Laura,

Be very wary of employing Spanish Solicitors at this stage as they will promise you everything and in the end deliver nothing....at a high price!!

Read more...

They might help you fill in some forms etc but it's you who will need to submit them along with the documentation. 

No-one can promise you a position of work, only a prospective employer and its down to them in the end to apply for work visas, not Solicitors!!

Steve 

kingscliff wrote on Thu Jul 28, 2022 2:18pm:

Sounds like you may have had a bad experience in the past, I speak as I find and I have had nothing but excellent service.