Pension (sipp)

Hi send me a pm. I have a Sipp, I’m an ex IFA, but I employ a tax adviser in 

I have an investment with old mutual (Quilter International now)  As it has performed badly, there has been no Capital Gains Tax.  But I wanted to bring some into the country, so I did - 30.000€.

I received a certificate saying no tax withheld because it was part of a capital gains product.  La Hacienda saw it differently and as the money had come into the country charged me 5.000€ income tax.  Lesson learned.  Don’t bring in more than 10.000€ per tax year.  10.000€ per person or less, no reporting necessary …

my asesora believes AEAT were incorrect to demand tax on a portion of a non-performing Capital Gains product - but they’ve taken the tax anyway and now I have to fight with them to get it back.

Be warned; irrespective of whatever certificate you receive, AEAT may see things differently and apply tax.  Such seems to be life in Spain

Hi, my Sipp is also with Old Mutual, it grew by over 27% last year. Maybe you need to check what funds you are in?

Spanish Tax Compliant Collective Investment Bond - Rathbones was one of the funds and it was pathetic.  Have moved funds now to less risk averse funds with Quilter and they are doing ok.

Be warned, if Quilter don’t withhold tax on the portion that has increased for you, AEAT will charge you Capital Gains Tax on that portion.  AEAT take tax on worldwide income