Discussion
I did a quick google for you and it looks like a website called www.spanishpropertyco.com might contain the information you need.
Edited to add - they are still refering to Pesetas in the text so it may be slightly out of date. However, it would give you a general idea as to what the score is.
>> Edited by Eric Mc on Sunday 19th June 10:32
Edited to add - they are still refering to Pesetas in the text so it may be slightly out of date. However, it would give you a general idea as to what the score is.
>> Edited by Eric Mc on Sunday 19th June 10:32
That's not really a tax point.
Regarding properties, you should try to find out as much as you can about local taxes (i.e the equivalent of rates) and Spanish Capital Gains Tax regulations. Note that the general exemption from Capital Gains Tax for your peincipal private residence is not observed throughout all of Europe.
Regarding properties, you should try to find out as much as you can about local taxes (i.e the equivalent of rates) and Spanish Capital Gains Tax regulations. Note that the general exemption from Capital Gains Tax for your peincipal private residence is not observed throughout all of Europe.
There are lots of things you will need to do your homework on -
Apart from basic tax issues there are all the complexities of owning foreign properties, property rights, compulsory acquisition regulations, planning regulations etc Personal medical and health care is something you will need to check up on too.
I would also find out what happens regarding the payment and taxation of your UK state pension. No doubt you are fully entitled to a UK pension. I presume that this might be taxable under Spanish law. Also, your UK pension will be a set Sterling amount. Living in Spain means that every month it will be paid into your bank account in Euros so it will be subject to currency fluctuations.
Finally, I would also find out the situation regarding Spanish death and estate duties and how they inter-react with UK Inheritance Tax. You could find that you are liable to both Spanish and UK death related taxes.
>> Edited by Eric Mc on Sunday 19th June 11:00
Apart from basic tax issues there are all the complexities of owning foreign properties, property rights, compulsory acquisition regulations, planning regulations etc Personal medical and health care is something you will need to check up on too.
I would also find out what happens regarding the payment and taxation of your UK state pension. No doubt you are fully entitled to a UK pension. I presume that this might be taxable under Spanish law. Also, your UK pension will be a set Sterling amount. Living in Spain means that every month it will be paid into your bank account in Euros so it will be subject to currency fluctuations.
Finally, I would also find out the situation regarding Spanish death and estate duties and how they inter-react with UK Inheritance Tax. You could find that you are liable to both Spanish and UK death related taxes.
>> Edited by Eric Mc on Sunday 19th June 11:00
euh... I think that you´ll get the best advice in the Tax office here actually. I tried to get some info in Spain about how to avoid double taxation (which is the first step you need to take) and they were utterly useless (as usual in Spain when you need information)- If you can read in Spanish you have www.aeat.es/ which is Hacienda, the ones that will be taking your money.
I am not sure how it works since I have always paid my taxes here but it is up to you to fill in your tax return once a year: "declaración de la Renta" I may ask my parents tonight and post you on this since all that webpage contains too much legal lingo. You have a section on "C. Autónomas" which explains the different cases on each place.
I am not sure how it works since I have always paid my taxes here but it is up to you to fill in your tax return once a year: "declaración de la Renta" I may ask my parents tonight and post you on this since all that webpage contains too much legal lingo. You have a section on "C. Autónomas" which explains the different cases on each place.
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