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hello I am looking to move to Villamartin in two years and wondered if somebody could explain what tax % we would pay on our private and state pension and if paying Spanish tax entitles you to health care.
pelham999 wrote on Tue Feb 9, 2021 1:54pm:
hello I am looking to move to Villamartin in two years and wondered if somebody could explain what tax % we would pay on our private and state pension and if paying Spanish tax entitles you to health care.
I can't advise you on the tax question but being a tax resident does not entitle you to Spanish healthcare.
If you gain residency, after 5 years and become a permanent resident, then you can apply for free Spanish healthcare. In the meantime you will have to have private healthcare for the first year and after that you can apply to join the Convenio especial which will give you access to the Spanish healthcare services.
Steve
Posted: Tue Feb 9, 2021 4:22pm
Legendary helpful member
Hi Pelham999,
Spanish income tax is much more complex than the UK. It's applied at State level, but also at regional government level, so it can vary depending on which autonomous region you live in. There are also many more allowances, beyond the "Personal" and "Married Couple" allowances we have in the UK. This link is the most current I could find - it will give you an overview, although you'd need to contact a professional to do a precise calculation for you, if needed:
https://www.expatica.com/es/finance/taxes/income-tax-spain-101437/
Kind regards,
Kim
Posted: Tue Feb 9, 2021 4:33pm
tebo53 wrote on Tue Feb 9, 2021 4:21pm:
I can't advise you on the tax question but being a tax resident does not entitle you to Spanish healthcare.
If you gain residency, after 5 years and become a permanent resident, then you can apply for free Spanish healthcare. In the meantime you will have to have private healthcare for the first year and after that you can apply to join the Convenio especial which will give you access to the Spanish he...
Read more...
...althcare services.
Steve
thank you steve thats very helpfull
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Posted: Tue Feb 9, 2021 4:39pm
Kimmy11 wrote on Tue Feb 9, 2021 4:22pm:
Hi Pelham999,
Spanish income tax is much more complex than the UK. It's applied at State level, but also at regional government level, so it can vary depending on which autonomous region you live in. There are also many more allowances, beyond the "Personal" and "Married Couple" allowances we have ...
Read more...
...in the UK. This link is the most current I could find - it will give you an overview, although you'd need to contact a professional to do a precise calculation for you, if needed:
https://www.expatica.com/es/finance/taxes/income-tax-spain-101437/
Kind regards,
Kim
thank you Kim
Do you pay tax on your UK state pension? and private pension? the same as the UK
Posted: Tue Feb 9, 2021 4:41pm
pelham999 wrote on Tue Feb 9, 2021 4:39pm:
thank you Kim
Do you pay tax on your UK state pension? and private pension? the same as the UK
Hello Kim
Do you only pay tax on interest on savings you have before you become a resident?
Posted: Tue Feb 9, 2021 4:59pm
Legendary helpful member
Hi,
Yes, you pay income tax on UK State pension and private pensions; the only exception to this is a "Crown" pension, i.e. military, civil service, some NHS and some Teachers' pensions. You have to declare all your assets outside of Spain on the Modelo 720 Declaration of Assets, but you declare your income on the Modelo 100 and that's what determines the amount of tax you pay. It's worth noting that ISAs, which are tax-free in the UK, are not tax free in Spain and you'll have to pay tax on the interest earned on those too.
Regarding healthcare, there is a possibility that UK citizens moving to Spain (and elsewhere in the EU), who are not protected by the terms of the Withdrawal Agreement, will still be able to claim an S1 from the UK for reciprocal State healthcare provision in Spain at retirement age in the future. This was included in the 24 December 2020 UK-EU Trade and Co-operation Agreement, provisionally applied from 1 January 2021. However, I wouldn't depend on that until it's confirmed on the UK Government website. As you're not planning to move to Spain for another couple of years, hopefully it will be favourably resolved by then; if so, it will certainly enable some to reinstate plans to move to the EU who weren't able to do so before 31 December 2020.
Kind regards,
Kim
Posted: Wed Feb 10, 2021 1:09pm
Kimmy11 wrote on Tue Feb 9, 2021 4:59pm:
Hi,
Yes, you pay income tax on UK State pension and private pensions; the only exception to this is a "Crown" pension, i.e. military, civil service, some NHS and some Teachers' pensions. You have to declare all your assets outside of Spain on the Modelo 720 Declaration of Assets, but you declar...
Read more...
...e your income on the Modelo 100 and that's what determines the amount of tax you pay. It's worth noting that ISAs, which are tax-free in the UK, are not tax free in Spain and you'll have to pay tax on the interest earned on those too.
Regarding healthcare, there is a possibility that UK citizens moving to Spain (and elsewhere in the EU), who are not protected by the terms of the Withdrawal Agreement, will still be able to claim an S1 from the UK for reciprocal State healthcare provision in Spain at retirement age in the future. This was included in the 24 December 2020 UK-EU Trade and Co-operation Agreement, provisionally applied from 1 January 2021. However, I wouldn't depend on that until it's confirmed on the UK Government website. As you're not planning to move to Spain for another couple of years, hopefully it will be favourably resolved by then; if so, it will certainly enable some to reinstate plans to move to the EU who weren't able to do so before 31 December 2020.
Kind regards,
Kim
Thank You Kim
