Eu passport - Page 2

Hi Dario thank you for that and i now get it. I would be selling my uk home to buy in spain so technically i wouldnt have a base in uk to return to for 6 months and dont want to be flying back and forth lets say every few months. I am looking to rel9cate but wanted a period to settle into a new way of life. I will have to look at options to stay here in the uk for remainder of time. Bit of a ball ache but hey so is life in general🤣

Hi Vera, (Not relevant to original subject and apologies if any confusion caused):- If you sell your home in the UK you effectively will have crossed the Rubicon and any chance of a dignified retreat (if necessary) to the UK is reduced.

Possible Solution:- Rent in Spain for whatever period you require - in this case it is not money wasted and also you have the option of renting out your UK property and making on the deal.

I agree with Matthew.  Rent first to enable you to decide if the full time move is right for you.  It also gives you time to check out the area and find out exactly where you want to live.  Also it gives you time to get solid,  reliable tax and legal advice.  The systems here are very different to the UK.  Remember also that will need medical cover if decide to become resident unless covered by S1.  Best of luck.

If I recall, only those resident pre 31/12/20 can register S1 on now reaching retirement age.

Those arriving post transition period will not be able to avail themselves of transferable benefits per S1, so health insurance will be mandatory

Hi and thank you. I dont want to rent my uk property out as been in it a very long time&its now time to sell&enjoy the money i made before goverment make you sell to pay for care if needed in future.

Its time for a new chapter. Im sure it will sort itself eventuallybas thungs happen for a reason🤣

Surely this has always been the case, Brexit or not. Over 182 days in Spain in a rolling year and you were deemed a tax resident.

From what I have read and seen at first hand with friends, this was never policed until Brexit and also the requirement of ALL governments to collect as much tax as possible. I know of many people who stayed under the radar in both counties to minimise or avoid tax in both the UK and Spain.

It seems the chickens are now coming home to roost with the scramble for residentias!

Quite understand why you might want a clean break, but one very important point to consider is tax and timing.  If you sell you U.K. home in the same year as you become a Spanish tax resident you will be in for a large amount of (in effect) capital gains tax in Spain  as it will be considered as your second home.  Tax relief in both the U.K. and Spain on the sale of houses is only available on primary residences. Therefore in order to make sure you don’t get hammered it would be better to sell the U.K. house this year (and rent in the U.K. if you are not yet ready to move over).  You could then either rent or buy in Spain  next year while preserving your capital. Nothing in life is certain except death and taxes!

Thank you. Sadly we are put on this earth just to pay tax😭

Hi, I was interested to read your comments about 'the uk government making you sell your UK home to pay for a nursing home'. Hopefully you will be well and healthy here in Spain, but as you get older and you need home care or a nursing home you will get very little if any help from Spain. Spain relies very heavily on family to take care/nurse their elderly people, So for example, what would you do, you have pulled up the draw bridge re UK, and you are now in Spain and 80 years old and need help, you cant go back to the UK cos you have sold your house, so you would need to sell your house here, (not easy), to buy another in UK, there are of course private nurses/health care professionals but that cost, how long would your money last, Whilst you are waiting for your house to sell so you can go back to the UK and get help.

You have a huge asset in the UK your house, rent it out, its income, its a safe guard for the future.

Hi and yes i understand what your saying but im not renting my house out as the miney from the sale is to purchase my spanish home&to live on. As for getting old&health issues you cant get any care in the uk unless you got lots of money so i would rather be old in the warmer weather than here. Sometimes you have to take a chance in life otherwise we would never do anything. Its the luck of the draw