State pensions and tax

Posted: Sun Mar 1, 2020 9:16am

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Please can any one advise me on the amount british pensioners with residency pay in Spain. My stepmum says they pay €3000 per year but my dad does have a private pension as well but that seems very expensive. Also if we came we were hoping to get a €70000 euro property to help with our pension but worried about how much tax we will pay on that as well as the pension can anyone help as adding another €250 per month to put by for taxes may mean we can not move out.

Thanks Jan

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Posted: Sun Mar 1, 2020 1:19pm

Lyn77

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Posted: Sun Mar 1, 2020 1:19pm

Get an Asesoria to sort it out. Everyone's income is different. If your dad has a private pension plus his own property all that is taken into consideration. In UK you pay monthly on your pensions over here I believe you can pay in 2 installments (not sure). You really need a professional to give you advice. Good luck.

Posted: Sun Mar 1, 2020 8:14pm

chrisso50

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Posted: Sun Mar 1, 2020 8:14pm

Jan

Yes, as the previous respondent said, you need to speak with a local professional and get advice. Also contact CAB (Spain).

I pay tax at source in the U.K. on my occupational pension. Spain taxes earnings and worldwide capital assets over £50,000 but if you already pay tax in the U.K. there is a double taxation agreement so you do not pay tax twice on the same income.

But as said, you need to obtain professional advice before making your decision. Good luck.

Chris