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Tax on pension’s

Posted: Fri May 6, 2022 2:39pm
6 replies843 views6 members subscribed
Cordas

Posts: 12

2 helpful points

Location: La Florida

Joined: 21 Apr 2022

Hopefully relocating to Spain next year.

Need information on tax deductions from our pension’s 

There seems so much paperwork todo this is another headache.

Thank you 

Sue 

Herefordjack

Posted: Fri May 6, 2022 3:23pm

Herefordjack

Super helpful member

Posts: 874

1089 helpful points

Location: Pego

Joined: 18 Dec 2017

Posted: Fri May 6, 2022 3:23pm

I've been doing my own tax returns every year online with the Agencia Tributaria since I got here four years ago. Far from being difficult, I find it very easy, although my income stream only consists of pensions, share dividends and savings account interest, there is no property involved. It merely involves logging on to the tax website, bringing up the appropriate electronic form, filling in a few figures in the appropriate boxes and pressing the 'submit' button. I keep a spreadsheet through the year to record all my income in the appropriate categories, and convert the pounds where necessary into Euros using the official exchange rate for the year.

The main thing you need to do is get yourself an electronic certificate on your computer, which is relatively straightforward. You need to go to a local office ( search https://www.accv.es/encuentra-tu-pru/) where they issue a code number to you on production of your photo ID (e.g. passport) and official document with your NIE (for example your TIE residents' card). Bring the code number home, find the following internet site  https://genera.accv.es/apsc/frontal/index.htm and then follow the routine for generating your certificate. When it has been created, you save it on your computer. This certificate then identifies you to any government agency that you access on the internet, including the tax authority when you do your income tax return.

As to how much you'll pay, it depends on several things, obviously the level of your income but also what type of income it is, i.e. pensions or from savings and investments. There's not a huge difference in what you'll pay here compared to the UK, although the threshold for starting to pay is a bit lower here.

Cordas

Posted: Fri May 6, 2022 5:03pm

Cordas

Original Poster

Posts: 12

2 helpful points

Location: La Florida

Joined: 21 Apr 2022

Posted: Fri May 6, 2022 5:03pm

Herefordjack wrote on Fri May 6, 2022 3:23pm:

I've been doing my own tax returns every year online with the Agencia Tributaria since I got here four years ago. Far from being difficult, I find it very easy, although my income stream only consists of pensions, share dividends and savings account interest, there is no property involved. It mer...

...ely involves logging on to the tax website, bringing up the appropriate electronic form, filling in a few figures in the appropriate boxes and pressing the 'submit' button. I keep a spreadsheet through the year to record all my income in the appropriate categories, and convert the pounds where necessary into Euros using the official exchange rate for the year.

The main thing you need to do is get yourself an electronic certificate on your computer, which is relatively straightforward. You need to go to a local office ( search https://www.accv.es/encuentra-tu-pru/) where they issue a code number to you on production of your photo ID (e.g. passport) and official document with your NIE (for example your TIE residents' card). Bring the code number home, find the following internet site  https://genera.accv.es/apsc/frontal/index.htm and then follow the routine for generating your certificate. When it has been created, you save it on your computer. This certificate then identifies you to any government agency that you access on the internet, including the tax authority when you do your income tax return.

As to how much you'll pay, it depends on several things, obviously the level of your income but also what type of income it is, i.e. pensions or from savings and investments. There's not a huge difference in what you'll pay here compared to the UK, although the threshold for starting to pay is a bit lower here.

Thank you so much ! That is most helpful.Take care Sue .

Locknut

Posted: Sat May 7, 2022 7:30pm

Locknut

Helpful member

Posts: 128

74 helpful points

Location: El Raso

Joined: 7 Feb 2020

Posted: Sat May 7, 2022 7:30pm

Herefordjack wrote on Fri May 6, 2022 3:23pm:

I've been doing my own tax returns every year online with the Agencia Tributaria since I got here four years ago. Far from being difficult, I find it very easy, although my income stream only consists of pensions, share dividends and savings account interest, there is no property involved. It mer...

...ely involves logging on to the tax website, bringing up the appropriate electronic form, filling in a few figures in the appropriate boxes and pressing the 'submit' button. I keep a spreadsheet through the year to record all my income in the appropriate categories, and convert the pounds where necessary into Euros using the official exchange rate for the year.

The main thing you need to do is get yourself an electronic certificate on your computer, which is relatively straightforward. You need to go to a local office ( search https://www.accv.es/encuentra-tu-pru/) where they issue a code number to you on production of your photo ID (e.g. passport) and official document with your NIE (for example your TIE residents' card). Bring the code number home, find the following internet site  https://genera.accv.es/apsc/frontal/index.htm and then follow the routine for generating your certificate. When it has been created, you save it on your computer. This certificate then identifies you to any government agency that you access on the internet, including the tax authority when you do your income tax return.

As to how much you'll pay, it depends on several things, obviously the level of your income but also what type of income it is, i.e. pensions or from savings and investments. There's not a huge difference in what you'll pay here compared to the UK, although the threshold for starting to pay is a bit lower here.

Hi I'm due to submit my tax in Spain for 2021. I've already paid tax via paye system in U.K. as income all pensions. Do I have to pay double until I claim back from U.K. Tax?

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BerylLFC

Posted: Sun May 8, 2022 4:03pm

BerylLFC

Helpful member

Posts: 148

89 helpful points

Joined: 11 Jan 2017

Posted: Sun May 8, 2022 4:03pm

Locknut wrote on Sat May 7, 2022 7:30pm:

Hi I'm due to submit my tax in Spain for 2021. I've already paid tax via paye system in U.K. as income all pensions. Do I have to pay double until I claim back from U.K. Tax?

Hi when I go on the website it says it is not a secure site any idea why ? 

Locknut

Posted: Sun May 8, 2022 4:15pm

Locknut

Helpful member

Posts: 128

74 helpful points

Location: El Raso

Joined: 7 Feb 2020

Posted: Sun May 8, 2022 4:15pm

BerylLFC wrote on Sun May 8, 2022 4:03pm:

Hi when I go on the website it says it is not a secure site any idea why ? 

I don't know I just posted question in el raso forum. 

Herefordjack

Posted: Tue May 10, 2022 4:17pm

Herefordjack

Super helpful member

Posts: 874

1089 helpful points

Location: Pego

Joined: 18 Dec 2017

Posted: Tue May 10, 2022 4:17pm

Locknut wrote on Sat May 7, 2022 7:30pm:

Hi I'm due to submit my tax in Spain for 2021. I've already paid tax via paye system in U.K. as income all pensions. Do I have to pay double until I claim back from U.K. Tax?

There is a place on the Modelo 100 Spanish tax form for you to enter all the tax you paid in the UK on your income, and this will be offset against the tax due in Spain.

Once you've made your first annual declaration, I advise you to opt out of the UK tax system altogether and pay tax only in Spain. It's a lot easier.

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