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02 Jan 2013 12:38 by georgev Star rating in La Vina near Loja. 3 posts Send private message

Hi,

I'm George and my wife is Liz and we retire to Spain in May this year.

I currently work in IT for the Oil and Gas industry but I am taking early retirement at 60. We have had a holiday home near Loja for about seven years, up in the mountains in a small village of about 200 hundred inhabitants and we are the only foreigners in our village, but there are lots of Brits in and around the Campo near us.

My wife is probably the more enthusiastic one for moving to Spain, but I have an open mind about it. Financially I won’t need to work. But I am hoping that there will be need for my skills, so I can mentally have something to do, my biggest worry is getting bored. I think I would be happy to solve people’s computer problems for a bottle of Roja just for the chalenge.

Looked on a lot of sites regarding Spanish Taxation, still not quite sure if I will be worse off being taxed in Spain, it looks as though the Spanish allowance‘s are lower and the tax rate is higher and if I am going to be worse off, how much worse off will I be?

Anyway we have booked the ferry for May and I'm on my rundown now!! So Spain here we come!!


 


This message was last edited by georgev on 02/01/2013.


This message was last edited by georgev on 02/01/2013.



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02 Jan 2013 13:11 by marcbernard Star rating in Marina Alta; Alicant.... 253 posts Send private message

Hi

Welcome to the forum.

As far as tax is concerned you will not have a choice as to country of charge. If you are in  Spain as a resident, which from your post seems likely, then the only world income which could be excluded from the Hacienda's grip on your income will be for any UK pension arising from employment  in the UK Civil Service and similar organisations. You will need to tell HMRC of your departure and they will advise and send the necessary forms. The state pension, when it arises, will not be taxable in UK, but in Spain.

Although the rates of tax etc may seem higher at first, please take note of the option to join together the incomes of both you and your wife and make a joint declaration, if this is advantageous. The first such declaration will be in the late spring of 2014 on the 2013 income.

 





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03 Jan 2013 13:14 by eos_ian Star rating in Valencia. 497 posts Send private message

eos_ian´s avatar

 Hi George and Liz

Welcome to EOS, its great to see more people coming over to Spain. I am sure you will find the help you are looking for on the forum

Ian 

 



_______________________

Ian :   EOS TEAM MEMBER 

www.eyeonspain.com/blogs/ianandspain.aspx




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DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


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