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P60 from Pru Annuity.

Posted: Sun Apr 30, 2023 9:23am
9 replies186 views4 members subscribed
gchase169

Posts: 55

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Location: Torrevieja

Joined: 26 Jan 2019

Hi Folks,  Is there anyone out there who is wanting to finalise their Spanish Tax Declaration for the year ending December 2022 ?  If so are any of you in the same boat as me, fed up with trying to get Pru Annuity to forward my P60 via my Secure email, in order for me to finalise my declaration via my assesoria !  I have tried all last week with absolutely no luck whatsoever being confronted with stupid childish replies from Pru.  Good luck to anyone in the same boat.  Many thanks in anticipation.

Darro

Posted: Sun Apr 30, 2023 11:06am

Darro

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Posted: Sun Apr 30, 2023 11:06am

Not sure why you think you need a P60 for your tax return?

The actual monies received in the course of the Spanish tax year are what count and you must already have that information.

Sounds like your asserorias may not really know what he/she is doing and just because he/she may say a P60 is needed doesn't necessarily make it so, some work on the 'kitchen sink' principal!

I know quite a number of people who do their own tax returns and none of them supply a P60 nor is it mentioned on the Modelo 100 or even in the tax manual. All you need are the gross sums for your income, no actual proof of those is required but you must be able to justify whatever you put down if challenged. A P60 will not help in that regard.

gchase169

Posted: Sun Apr 30, 2023 2:36pm

gchase169

Original Poster

Posts: 55

6 helpful points

Location: Torrevieja

Joined: 26 Jan 2019

Posted: Sun Apr 30, 2023 2:36pm

Darro wrote on Sun Apr 30, 2023 11:06am:

Not sure why you think you need a P60 for your tax return?

The actual monies received in the course of the Spanish tax year are what count and you must already have that information.

Sounds like your asserorias may not really know what he/she is doing and just because he/she may say a P60 is needed doesn't necessarily make it so, some work on the 'kitchen sink' principal!

I know quite a number of people who do their own tax returns and none of them supply a P60 nor is it mentioned on the Modelo 100 or even in the tax manual. All you need are the gross sums for your income, no actual proof of those is required but you must be able to justify whatever you put down if challenged. A P60 will not help in that regard.

Thanks for your reply Darro.  The money is paid into my English bank in the U.K. and I choose when to bring it over to Spain . My assessors then total it up with the State Pension received each month and that forms the Tax payment required. 

Darro

Posted: Sun Apr 30, 2023 3:34pm

Darro

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Joined: 8 Sep 2021

Posted: Sun Apr 30, 2023 3:34pm

When, or if, you choose to transfer the money to Spain is irrelevant, it's income on the day you receive it so should be notionally converted to Euros at that days rate then noted and totted up at the end of the year.

Again a P60 plays no part whatsoever in the process so is not needed in order to complete your tax return.

Kimmy11

Posted: Sun Apr 30, 2023 6:37pm

Kimmy11

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Posts: 6869

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Joined: 8 Aug 2017

Posted: Sun Apr 30, 2023 6:37pm

Hi gchase169,

Are you signed up for MyPru?  If so, can you download your P60 from there?  

Alternatively, you could print off a transaction list from your UK bank, covering the period January to December 2022, and then highlight each of your monthly pension payment deposits.  Personally, I can't be bothered - I much prefer to hand our tax advisors, Abaco, the two P60s for my husband's military pension, which cover the Spanish tax year, and let them do the work! 😄

Kind regards,

Kim

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gchase169

Posted: Mon May 1, 2023 7:30am

gchase169

Original Poster

Posts: 55

6 helpful points

Location: Torrevieja

Joined: 26 Jan 2019

Posted: Mon May 1, 2023 7:30am

Kimmy11 wrote on Sun Apr 30, 2023 6:37pm:

Hi gchase169,

Are you signed up for MyPru?  If so, can you download your P60 from there?  

Alternatively, you could print off a transaction list from your UK bank, covering the period January to December 2022, and then highlight each of your monthly pension payment deposits.  Personally, I can't be bothered - I much prefer to hand our tax advisors, Abaco, the two P60s for my husband's military pension, which cover the Spanish tax year, and let them do the work! 😄

Kind regards,

Kim

Hi Kimmy,

Yes I am signed up for the My Pru and that’s where the problem lies.  I’ve tries over the past week but to no avail. As to the action you suggest re the bank statement from my English bank, I’m not happy with giving too much detail to my Assesoria ! Thanks anyway.

Darro

Posted: Mon May 1, 2023 7:53am

Darro

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Posts: 1452

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Location: Catral

Joined: 8 Sep 2021

Posted: Mon May 1, 2023 7:53am

I really don't know how much clearly it can be said, there is no need whatsoever for a P60 in order to complete a tax return!

The same goes for bank statements or any other actual proof of the income you are declaring, if any such proof were required it would be called for when submitting the Modelo 100 which it isn't.

The only reason an assessor would be asking for one would be because you yourself have not totted up your income and presented them with the figures.

Cpop

Posted: Wed May 3, 2023 1:58pm

Cpop

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Posts: 127

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Joined: 3 Dec 2019

Posted: Wed May 3, 2023 1:58pm

gchase169 wrote on Mon May 1, 2023 7:30am:

Hi Kimmy,

Yes I am signed up for the My Pru and that’s where the problem lies.  I’ve tries over the past week but to no avail. As to the action you suggest re the bank statement from my English bank, I’m not happy with giving too much detail to my Assesoria ! Thanks anyway.

This sounds like you are trying to hide some income (forgive me, I was a tax professional in the UK).

As I understand it, if you are resident here, then your income worldwide is assessed for tax. If you are not resident, then your tax is paid in the country you are.

Stevec2x

Posted: Thu May 4, 2023 11:24am

Stevec2x

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Posts: 1816

1040 helpful points

Location: Playa Flamenca

Joined: 23 Jan 2020

Posted: Thu May 4, 2023 11:24am

Hi 

I echo Darro. I do my own tax return and there is no requirement for proof of income/P60 (unless the tax man subsequently decides to investigate you personally).

Cheers 

Steve 

Kimmy11

Posted: Thu May 4, 2023 12:31pm

Kimmy11

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Posts: 6869

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Joined: 8 Aug 2017

Posted: Thu May 4, 2023 12:31pm

Stevec2x wrote on Thu May 4, 2023 11:24am:

Hi 

I echo Darro. I do my own tax return and there is no requirement for proof of income/P60 (unless the tax man subsequently decides to investigate you personally).

Cheers 

Steve 

Hi Steve,

It's the same for individuals submitting UK Self-assessment - I don't have to provide any evidence to HMRC, unless I choose to do so, or if HMRC request it.  

I choose to give my husband's P60s to our Spanish tax advisors, so that they can work out his income for the Spanish tax year - if the Spanish and UK tax years were aligned I wouldn't bother.  In any event, the P60 only contains information that HMRC and AEAT share anyway.

Kind regards,

Kim

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