Not a lot said yet on this forum but i'm betting on higher levels of tax and CGT at the very least.
Making sure i stay in (relatively) low tax UK and visit less than 6 months.
Now had they introduced a flat 10% tax for all new tax residents for 10 years i'd have ditched the uk and moved lock stock and barrel to SPain.
Funny old world.
the new government
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- Andalucia Guru
- Posts: 16058
- Joined: Sun Oct 24, 2004 10:42 pm
- Location: La Herradura, Costa Tropical, Granada
Re: the new government
The proposed income and capital gains taxes will only apply to people with more than a 6 figure income.
Sid
Sid
Re: the new government
I think the reason you'll not see much on here is because we don't think it'll impact very much on most of us. There's not a huge difference in the tax situation between UK and Spain. People get confused because for example the personal allowance in Spain for a pensioner is only €6,700 whereas in UK it's £12,500. However, it's a bit more complicated than that in Spain e.g. there's an additional €2,000 allowance in Andalucia anyway and then there's special allowances for low income earners or pensioners. I'm not sure exactly how this works but there is additional allowance for low income and it works on a sliding scale up to €14,450, so in essence if you earn around €12,000 you pay little or no tax.
Obviously still a higher tax regime than UK but for us it's offset by the lower cost of living and the health benefits of an outdoor lifestyle.
We certainly are not concerned and irrespective of whatever might change there's no chance of us returning to UK. (just watched the weather forecast for UK lol)
Obviously still a higher tax regime than UK but for us it's offset by the lower cost of living and the health benefits of an outdoor lifestyle.
We certainly are not concerned and irrespective of whatever might change there's no chance of us returning to UK. (just watched the weather forecast for UK lol)
A man likes his wife to be just clever enough to appreciate his cleverness, and just stupid enough to admire it
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