Does anyone know how much you can have in Uk banks in savings before you have to pay any tax.
Am retired don’t own any property in Uk don’t earn any money in Spain and don’t receive any pension from uk....4 years to wait
Posted: Wed May 8, 2019 9:26pm
Thanks
Any idea where I might find the in
Posted: Wed May 8, 2019 11:51pm
Tha
Posted: Thu May 9, 2019 4:41am
Legendary helpful member
The amount you have in savings doesn't affect when you have to pay tax, but if it's over €50,000 then you have to report this on a modelo 720 form.
It's any interest on savings that is potentially liable for tax. Once resident, you have to do an initial tax return to get you into the system, whether or not tax is due. You don't need to do future returns if no tax is due.
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