Join the Mojacar forum
My name's Alex and this is my website all about Mojacar in Spain. Register now for free to talk about Taxes in Mojacar: Suma, NIE and general tax advice and much more!
Hi any advice on annual personal tax allowance in Spain would be much. appreciated, we have have been told by some it’s €5’550each & by others €11’200? We are married & both taken early retirement therefore not drawing a state pension as yet many thanks
personal tax allowances in Spain vary according to your age and income. there is a set allowance of the lower amount you quote but there are also extra allowances which push up the amount you can earn before tax. you have to declare all of your income including what would be tax free in the UK like ISA interest and premium bond winnings if you have any. you also have to declare any assets valued over 50000euros but at the moment that is not taxed. if you rent out a UK property you must declare the rent as income. each individual is assessed on the total amount they receive and you used to be able to use one partners tax allowance if they paid no tax but that has now stopped. on average you pay 20% of income as tax.
