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Another currency transfer question.

Posted: Tue Jun 25, 2019 1:51pm
4 replies229 views4 members subscribed
TerryL

Posts: 33

17 helpful points

Location: La Zenia

Joined: 19 May 2019

Hello,

I’m looking to buy a property soon and will send the funds via a currency transfer company (I have a couple in mind), however, I’m going to be funding my life in Spain with at first savings then a combination of savings and pension. My question is, if I keep my savings in the UK is it normal to send myself a lump sum each month to my Spanish bank account. I’ve already paid tax in the UK on all my savings etc and want to avoid (not in a tax avoidance way) having to pay any more tax on my already taxed money. Obviously I will pay tax on any interest so will I need an accountant or just use my lawyer in Spain. I hope this makes sense.

Thanks T

TerryL

Posted: Tue Jun 25, 2019 9:21pm

TerryL

Original Poster

Posts: 33

17 helpful points

Location: La Zenia

Joined: 19 May 2019

Posted: Tue Jun 25, 2019 9:21pm

Thank you Kim, I shall rely on this reply and as much as I love Jim’s guides I think with tax I’ll let an expert do it for me.

Thanks again, this forum has been a godsend for me. I’m out there viewing properties from Sunday so exciting times ahead!

TerryL

Posted: Tue Jun 25, 2019 9:24pm

TerryL

Original Poster

Posts: 33

17 helpful points

Location: La Zenia

Joined: 19 May 2019

Posted: Tue Jun 25, 2019 9:24pm

Thanks pete, I meant I’ll be earning interest on my savings in the uk, I’m not expecting to earn any interest on my current account in Spain. I will be sending myself about €2000 a month to live on so hopefully that will eradicate any bank charges?

Angei02

Posted: Wed Jun 26, 2019 11:53am

Posts: 29

11 helpful points

Location: Orihuela Costa

Joined: 19 Sep 2018

Posted: Wed Jun 26, 2019 11:53am

Recommended Kevin at Sunbeachvillas. Also,  very helpful, lots of experience and knowledge of the area. He also got the owner to discount the asking price...

[email protected].   Sorry lost his phone number.    Good luck

Villas

Posted: Wed Jun 26, 2019 12:02pm

Villas

Legendary helpful member

Posts: 4317

3504 helpful points

Location: Sax

Joined: 29 May 2017

Posted: Wed Jun 26, 2019 12:02pm

This post that was quoted has been deleted.

Believe 700? V

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