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When the pound was 1.25 to the euro 50,000 = £40,000
Now at 1.14 it is = £43,850
So one can have more GBPs before needing to declaring
By 30th April, if it continues to fall, and is say on par, then that’s £50,000
There's always a silver lining !!!!!
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Fraid not, you have to use the official rate as the 31st December.
Personally, I always use the ECB official rate, which is published daily. For the 31st December the rate was £0.8161 per €1 or €1.22534 per £1.
If a person holds a foreign account whose balance is in a currency other than the euro and required to file information return for the model 720, what exchange rate should be applied to determine each of the balances to report? What if he had canceled the current account during the year?
Must report the balances of the current account using the exchange rates prevailing at December 31 of the year to which the information declared. This same reference will be made in relation to the assessment of the average balance of the last quarter for each account.
In the event of termination of ownership of the account during the year and declare any obligation, shall be used to determine the type of balance rate prevailing on the date of termination of such ownership
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My post was of course tongue in cheek.
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with the greatest of respect
no it wasnt
you were caught out with incorrect facts and you backslid to try and save face.
This message was last edited by Mungry on 23/02/2013.
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i coldnt stay away from you miserable whining whingers for some reason
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Hahahahahah
Good to see you Mungry joining in the joke.
Of course, I should not have joked about such a serious subject, as others living entirely on sterling based income which is limited, must be finding the falling pound difficult to cope with. But hopefully no one will have thought for a moment I was being serious.
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Its good for those of us who live and are paid in the Eurozone
For us we plan to spend a month in the UK later in the year. Although I've lived in France for 30 years I've never been to the UK so am looking forward to visiting and the continual planned devaluation of Sterling by the UK will only help us spend less than we had planned.
We may even extend our trip and be able to see more than we had planned.
So for us a Siver Lining.
Rossetti
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Bet a lot of people are thinking they come under the threshold until they convert pounds to euros!
What a nightmare this new ruling is-not a way to encourage people to move to Spain
Why isn't the Hacienda doing anything about those who have lived here for years, never registered on theSpanish tax system, and are therefore under the radar?
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On 31st December 2012 , the pound was at 1.2307 so £40,627 = 50,000 €
Why isn't the Hacienda doing anything about those who have lived here for years, never registered on theSpanish tax system, and are therefore under the radar?
Camplo,
I understand the new legislation is to catch precisely those (Spanish as well) who are tax resident but have not paid their due tax.
Whether it will work, will have to be seen.
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Campansol,
the system in Spain seems unable to track or trace people so how would those living under the radar be caught.
We rent a house in Sotogrande from a landlord that has 3 villas, lives in Gibraltar and we pay him cash as we do our staff, We have been in Spain for several weeks and paid cash for everything except flights ( who wanted cars).
We intend to stay here on and off for 12-months and to date have not found anyone who would prefer cards or cheques (ours are on French banks) to cash.
My initial view is that there are few paying tax, even our vet takes cash and provides an appropriate discount.
Cash seems to be king in Spain.
Rossetti
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We purchased a Home in Spain in September last year ( 2012) when we achieved 1.24 Euros to the pound exchange rate so I suppose the house has technically up in value by about 11c per Euro we paid for it. Only problem on the downside is our spending money has gone down so I suppose you could say swings and roundabouts.
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Fomer member revisiting r.
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Rossetti some might think that you are taking advantage of the taxes we pay which provide the services, which you are enjoying. You may say, you spend money here, so do the rest of us taxpayers. I do think that most of us here would not thank the thief who steals from our handbags, but instead we would hope they get caught.
I assume you know that no one is really anonymous on the internet, so boasting that you intend not paying taxes is somewhat foolish, dare I say, even for a man.
This message was last edited by elaineG on 23/02/2013.
This message was last edited by elaineG on 23/02/2013.
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ElaineG
I guess the folks that take my money pay tax. I guess the landlord, stores, restaraunts, gas stations and service suppliers pay he appropriate taxes.
I'm from France on a sabbitical and see no reasons to register or pax taxes as my salary is paid and taxed in France. I can see no reason to register in the Spanish systems as my cars are from France, I pay my taxes in France and have a home in france, we have had wealth tax for a while so am not against paying my share. Just not to Spain.
I dont use any of the government supplied service. Our landlord even supplies his own security on his properties.
Go after the residents not your visitors who spend plenty on a long term holiday.
Rossetti
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Rossetti if your stay is longer than 183 days, in all, not consecutive, over one year then you will be tax resident in Spain!
Johnx-everyone who registers on the foreigners register, or obtains free medical care is traceable by the Hacienda.Why doesn't it have a list of them supplied by the police station and social security. Why isn't everyone who registers reminded of their tax obligations by being given a tax info sheet?
Spain and Greece are in a mess due in no small way to the black economy, annd boy are we being punished for it!
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Campansol
how would the authorities know how many days we spend n Spain in any given 12-months?
How can I be tax resident when I liveand pay my (very considerable) taxes in France?
Is there really a consolidated record of border transfers between Spain, Portugal, France and anyother country we fly into outof from Spain.
If my experience of trying to get an answer from Spain about a 12-moth visa is anything to go by it depends on the day of the week the office or officer you approach as too what the answer will be.
I'm happy doing my bit for the Spanish economy by spreading my long service year money it's upto the Residents of Spain I pay monet too to pay taxes. We in France have given enough to Spain already through our taxes.
Rossetti
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Campo, not sure exactly where you are coming from with this.
An NIE (Número de Identidad de Extranjero) is the unique number by which everyone with one is traceable. Also, all transactions made by that person, if they use the number, can be traced, including all bank accounts, utility bills, etc.
As for telling people that they must pay tax, where would one stop ?
Rossetti if your stay is longer than 183 days, in all, not consecutive, over one year then you will be tax resident in Spain!
From what he has posted, here and on other threads, it is clear that he knows his obligations, but he says he will just ignore them.
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If someone has registered on the foreiners register, then he/she is living here permanently and is liable for tax, so suerely if the Hacienda is given a list of them, they can check whether they are making declarations.Also one has to be on the register to access free medical care, so again that is another way of the hacienda finding out who should be registered on the tax system, and consequently following them up.
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Campo the NIE is the fiscal (tax / Hacienda) number. So of course they 'know' everyone who has one, I believe they issue it, for sure it is not the police.
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so why aren't they chasing up all these tax avoiders, many of them pensioners ,been here for years, who have no inention of paying tax here. This new rule is more likely to put them off, not register on the tax system!
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Campo, don't ask me, ask Hacienda
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