Hi there a question,myself and partner are moving to spain soon permantly to live together having sold my pur separate homes and bought a place and intend to live out there permantly.
She is retired and receiving pension,i am well below retirement age and will not be working for some time at least untill i am ready to do so.
I have savings in the uk of which i pay tax on i.e (taxed at source) and i live off this as my income as monthly interest,now what happens when i go live in spain?,my intention is to keep the bulk of my capital in the uk as it generates a better return on interest and bank transfer X amount each year to my bank account in spain as i have already done.
Will i have any extra income tax in spain as i have already paid it in the uk?,if so what and how much?,i will not be working,me and partner are not married,spain will be our only residence,we wil keep our uk citizenship,we both have out N.I.E number,we will possibly be going this november to live.
Apart from yearly property tax apparently their is a wealth tax to pay as well and help on this.

regards

prince

Hi Prince,

If you haven’t yet, please have a read of our page on taxes in Spain. I think you’ll find the answers to many of your questions there, including some info about double taxation (there is a treaty between the UK and Spain re: double taxation, meaning you can’t be taxed on the same income twice).

Also see the forum topic about taxes in spain/uk.

The Expatriator - 07 September 2006 08:46 PM

Hi Prince,

If you haven’t yet, please have a read of our page on taxes in Spain. I think you’ll find the answers to many of your questions there, including some info about double taxation (there is a treaty between the UK and Spain re: double taxation, meaning you can’t be taxed on the same income twice).

Also see the forum topic about taxes in spain/uk.

Thanks for the reply back i will read up on it all!

prince