Living and taxes in Spain

Honestly???

I am not an accountant or financial advisor ( except when I’m brave enough to tell my darling wife to stop buying shoes ).

I really think in such important matters the advice of a Spanish accountant should be sought. You will be getting the facts then not something some of us experienced maybe years ago with different regulations.

Then armed with facts you can make the decision. 

Hi

We are in a similar position to yourselves, although we are both retired. We bought for cash 3 years ago and visit 3 months in the spring and 3 months in the autumn, we choose not to rent our property but it is used by the kids FOC sometimes. We pay Spanish non residents tax on an annual basis, which is based on property value and a charge by our solicitors for filing it. This is probably around 220 euro in total, obviously we pay local authority charges and services by direct debit from a spanish bank account, which I top up from uk as required. I would certainly suggest this is the best way forward till your sure of the move. It retains your assets uk based and and for taxation you are uk resident.

James

Hi Kelf,

I agree with JTP890, but I have also send you a private message, with more info.

Regards  Jenni

Hi James,

Having done research this is one option we are considering. 

When doing the Spanish tax research I was surprised there was such a huge different between UK and Spain. 

Thank you to both James and Jenni.

Hi jenni, we are in similar position and are very confused regarding the taxes.friends living in Turre have recently purchased a home. And have told us that the threshold to start paying tax is €14000 each but I have been told different by people on the forum. Any info would be good

Regards Sue

Hi Sue, I have replied via private message  Regards  Jenni

Dont take such an important step by talking to people on the forum It costs nothing to talk to professionals like Indalo Partners at the Commercial Centre in Mojacar. I was charged only 100 euros by them to sort out my very first years residence tax for self and wife . 

Hi,

As well as seeking professional advice I think it is also worth considering that taxation is likely to change in both the UK and Spain to fund the enormous cost of Covid19. Sanchez has already warned that there will be tax increases and I cannot imagine that the same will not happen in the UK. We sold up, moved to Spain and bought a property last year so are already committed. I think if I were looking to move right now I would be a lot more cautious due to the uncertainties of the future, tax and otherwise.  For what it's worth, though, despite higher taxation in Spain, we live on much less money here than we did in the UK despite going out considerably more frequently and enjoying a very high standard of living. Best of luck making your decisions.

Thanks for your responses. Obviously if we move to Spain I will seek professional help but I would welcome the opinions/comments from people who have been through the experience.