Tax Advice

Posted: Thu Apr 12, 2018 2:30am

2 replies110 views3 members subscribed

paulcbaillie

Posts: 7

8 helpful points

Location: Vera Playa

Joined: 31 Mar 2018

We are moving to the area at the end of June.

We have saving in a British account but plan to open a Spanish account when we get there.

I am totally bamboozled by the tax implications.

Am I better transferring a bit at a time from the Uk to Spain?

The money I have has already had tax paid in the UK

Anyone got an idiots guide please

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Posted: Thu Apr 12, 2018 5:49am

BobL

Super helpful member

Posts: 2170

1226 helpful points

Location: Mojacar

Joined: 18 Aug 2016

Posted: Thu Apr 12, 2018 5:49am

Hi,

Currently we have a Euro account with Lloyds International and have our pension/s paid into that in euros. We then arrange all DDs to be paid from that. So we pay most bills by use of Euro card. We have a Spanish Bank account but keep just a small amt.in ut.

You will learn about Embargo when you get out here.Where money can be seized from your Spanish acct without notification.

There may be a problem if you wish to take out Residencia and.you can read about that if you go back several posts to one dealing with Provision of Healthcare and info provided by DarioMartin.

For us we keep as little in Spain as poss.

We all find it confusing, you are not on your own & GOK what will happen post Brexit.

Bob and Sandra

Mojacar Playa and Puerto Lumbreras

Posted: Sun Apr 15, 2018 10:33am

JAS

Helpful member

Posts: 387

217 helpful points

Location: Vera

Joined: 5 Jan 2016

Posted: Sun Apr 15, 2018 10:33am

paulcbaillie wrote on Thu Apr 12, 2018 2:30am:
We are moving to the area at the end of June.
We have saving in a British account but plan to open a Spanish account when we get there.

Read more...

I am totally bamboozled by the tax implications.
Am I better transferring a bit at a time from the Uk to Spain?
The money I have has already had tax paid in the UK
Anyone got an idiots guide please

The tax implications are complicated over here and everyone has different views and advice, plus everyone's circumstances are different. My advice would be to seek professional guidance as may save you money in the long run. I have used Alejandro at Gestoria Salvador on Mojacar Playa he was extremely helpful.