Tax free savings

no but you can make an investment via Prudential in Ireland which is not declarable on the Mondelo 720 however, it goes down as well as up especially with Covid 19 influences! so needs to be a long term investment to see a decent return.

Hi

Do you have any details for this account please

I guess I can still invest in an isa as U.K. and Spain have a tax agreement which means I wouldn’t pay tax on it in Spain

Yes you can but I think you would have to declare any interest and you would pay tax on the interest 

I don’t think so. Because we have this Tax ‘arrangement’ with Spain my financial advisor tells me I won’t pay interest. I’ll see if my Spanish advisor agrees! 

Actually I am wrong! I’ve just checked and I would pay Spanish tax on ISA gains. 

Unfortunately I think that’s right. We are going to see a tax advisor tomorrow so will find out for definite 

Generally property taxes and cost of living are cheap but income tax much higher in Spain. Personal tax allowances are twice as high in England and ISAs are a great bonus. Guess you take the rough with the smooth- the house we’ve just bought in Spain is nicer in every way than the one we are selling in the uk and the price is 60% less!! Basically our pension. So I’m not going to begrudge paying a bit more in income tax. Andy

we did it through Indalo Partners in Mojacar but beware as we invested just before the pandemic struck and ours has gone down a lot but will with luck rise up again over the next 4 years!!! luckily it's our emergency nest egg for old age so don't need it yet.