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Hi
Could anyone advise me re taxation after brexit.
Do you just pay tax in the uk on your uk pension or do you have to pay Spanish taxes as well
You need to be a bit more specific. Assuming you’re a resident ? Is it state pension, a personal pension, Sipp, occupational pension, government pension etc..
Lmj18 wrote on Wed Mar 31, 2021 4:30pm:
You need to be a bit more specific. Assuming you’re a resident ? Is it state pension, a personal pension, Sipp, occupational pension, government pension etc..
Hi
It would be a mix of state and private pensions, we would be living in Spain
Gazmax wrote on Wed Mar 31, 2021 4:57pm:
Hi
It would be a mix of state and private pensions, we would be living in Spain
you pay tax in Spain as a resident on all of your worldwide income, including anything that would be tax free in the UK. i.e. Premium bonds winnings. ISA interest. The allowances here are less than the UK but depend on your ages and where you live. You must make a tax return for the period 1 Jan to 31st Dec every year unlike UK's April to April. You also have to do a declaration of any assets you have that are over £50k which are not taxed on at the moment, but if you don't declare them they can fine you.
Alicia 11 wrote on Wed Mar 31, 2021 6:56pm:
you pay tax in Spain as a resident on all of your worldwide income, including anything that would be tax free in the UK. i.e. Premium bonds winnings. ISA interest. The allowances here are less than the UK but depend on your ages and where you live. You must make a tax return for the p...
Read more...
...eriod 1 Jan to 31st Dec every year unlike UK's April to April. You also have to do a declaration of any assets you have that are over £50k which are not taxed on at the moment, but if you don't declare them they can fine you.
Many thanks for your prompt respo
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Many thanks for your prompt respon
Posted: Thu Apr 1, 2021 1:47pm
Helpful member
State pensions are taxable in spain, but UK government occupational pensions. i.e. Police civil service, local council, fire service etc are taxable only in uk under a double taxation treaty between UK and Spain, but the income must be declared. I suggest you get yourself an English speaking asesor (accountant). Saves alot of hassle.
Alicia 11 wrote on Wed Mar 31, 2021 6:56pm:
you pay tax in Spain as a resident on all of your worldwide income, including anything that would be tax free in the UK. i.e. Premium bonds winnings. ISA interest. The allowances here are less than the UK but depend on your ages and where you live. You must make a tax return for the p...
Read more...
...eriod 1 Jan to 31st Dec every year unlike UK's April to April. You also have to do a declaration of any assets you have that are over £50k which are not taxed on at the moment, but if you don't declare them they can fine you.
Many thanks
Lyn77 wrote on Thu Apr 1, 2021 1:47pm:
State pensions are taxable in spain, but UK government occupational pensions. i.e. Police civil service, local council, fire service etc are taxable only in uk under a double taxation treaty between UK and Spain, but the income must be declared. I suggest you get yourself an English s...
Read more...
...peaking asesor (accountant). Saves alot of hassle.
my husband's army pension is under the tax limit in the UK so no tax paid but is taken into consideration for worldwide income in Spain and therefore taxed in Spain.
Posted: Thu Apr 1, 2021 4:13pm
Helpful member
Obviously not classed as a government occupational pension. You can always look it up on a uk Government site, I'm not sure about that myself.
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