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Does anyone have experience of how a UK draw down pension is taxed in Spain, or in Almeria if there are any regional variations?Also are there any companies specialising in related advice to expats, which are highly recommended? We are considering retiring to Spain and would be resident for tax purposes.
Thank you
Posted: Tue May 31, 2022 10:48pm
Legendary helpful member
You will declare your income annually including your pension and be taxed on that. (Unless your pension is taxed at source i.e. UK Government pension, in which case you still declare it and only pay the difference, if any, between tax actually withheld in UK and what would have been taken as tax in Spain),
in Spain all of your world wide income is taxable, that includes ISA interest, Premium bond prizes plus any pensions. In the different areas there may be different allowances before tax is calculated most people use a qualified tax advisor like Indalo Partners in Parque Commercial. If you have a civil service or a military pension you pay your tax on that in the UK.
Posted: Wed Jun 1, 2022 5:47pm
Helpful member
Asesores y Abogados Torres,
Accountants.
Av. de la Luz, 16, 1ª planta, 04638 Mojácar, Almería
Excellent Service with English Speaking Staff. In the block above the Parque Comercial. They have a website, search on the name above to find it.
Dinkytoys2 wrote on Wed Jun 1, 2022 5:47pm:
Asesores y Abogados Torres,
Accountants.
Read more...
Av. de la Luz, 16, 1ª planta, 04638 Mojácar, Almería
Excellent Service with English Speaking Staff. In the block above the Parque Comercial. They have a website, search on the name above to find it.
Thanks for the recommendation
