loans help please

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09 Dec 2014 22:56 by disgruntleddave Star rating. 4 posts Send private message

Hi,

I came over here to live with some savings and a pension, however a large part of my savings has now gone.I forgot about the Spanish Tax. My pension is taxed by the UK before it goes into my spanish account. I do not have a property over here and the jobs I was promised did not materialise. One was started and lasted a month before being terminated due to lack of customers. I have been over here more than the number of days stipulated. I was told by someone that the spanish tax only the savings you have at that point when you do the return, however I have learnt differently.I am now desperately seeking a loan to pay my tax when it comes to it, I have been told by my bank that they will not do it as it is not a spanish pension although its paid directly into the spanish bank. Can anyone please help me as to a loan company in spain or canaries that may be able to help. I was given the details of one however for the loan instead of 5 years they made it 8 years and tripled the ammount of loan given. Has anyone any help or advice. I have moved to a lot cheaper accomodation on the island and sold my car to help a little. I keep thinking of going back to the UK and ignoring filling in the tax form altogether but someone told me that it would be even more silly. So if anyone knows of a loan company that could help thats not a rip off company then I would appreciate. Yes we all make stupid mistakes none of us are infalable. But I need help and advice now on what to do Do the spanish taxation office help with some sort of credit arrangement. My two company pensions are guaranteed and in another 3 years I get my state pension from the UK . My Christmas and New Year will not be a happy one for celebration so please any help suggestions or advice would be appreciated.I do not want to leave the island I am 62 and have applied for other jobs doing anything but no offers.





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10 Dec 2014 09:44 by eos_ian Star rating in Valencia. 485 posts Send private message

eos_ian´s avatar

You should speak to a lawyer for some advice. If its a tax payment to the government they will often negotiate staged payments over a long period of time with out having to get any loan at all. It is quite common. If you can show that you can't afford to pay the tax bill but are prepared to that should be prepared to accept a paymetn plan with minimal interest. Not sure if this applies to your situation, but can't see why not. You should seek professional advice, maybe Maria de Castro can help you, she is on this site.



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10 Dec 2014 10:46 by Team GB Star rating. 1245 posts Send private message

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Dave

My pension is taxed by the UK before it goes into my spanish account. I do not have a property over here and the jobs I was promised did not materialise.

What tax do you owe then? savings are not taxable only any interest earned on them.

 



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10 Dec 2014 13:14 by floella Star rating in SE Spain. 772 posts Send private message

Think disgruntleddave is either bored or doing his best to get folk discussing " this and that " because nothing he has posted so far makes logical sense. 





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10 Dec 2014 13:41 by mariadecastro Star rating in Algeciras (Cadiz). 9290 posts Send private message

Legal Questions? Speak to Maria Direct

Disgruntleddave:

I would need to see your tax bill. Please feel free to email it to

web  at    costaluzlawyers.es

Cheers

Maria



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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10 Dec 2014 13:49 by bobaol Star rating. 2257 posts Send private message

bobaol´s avatar

His first post said he moved over in December 2013. Then in December 2014 he says he has a massive tax bill. How come? Tax returns aren't done until March/April time. Even if one was done for just December 2013 (which I doubt because you don't become a fiscal resident straight away) then it would have been peanuts or a minus amount especially as taxes in UK would have been taken into account.

The tax bill for 2014 won't be done until March/April time next year with bills (if any) coming out in September.

Sorry, floella is right and none of it makes sense and it's a massive wind up.

 





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10 Dec 2014 13:53 by johnzx Star rating in Spain. 5239 posts Send private message

Even if one was done for just December 2013 (which I doubt because you don't become a fiscal resident straight away)

Just for clarity.  If one comes to Spain to settle or work,  then they become tax resident immediately. 





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11 Dec 2014 02:01 by disgruntleddave Star rating. 4 posts Send private message

Thanks for the replies. No this is not a wind up.Perhaps I have entered the wrong site for this as I seem to be reading Non Resident. Upon coming here in december 13. I was told by my friend I had to apply for an NIE which I did. Later in March I was then told I had to apply for residency as I would be working here which I also did, however the job did not last as long as I had hoped only a month.I came over with 70.000 savings and a small pension having been offered work in the first place however since being here I have spent most of my savings.I also had a friend who was left an appartment by his mother and used up quite a large sum in helping to renovate it also to help with trying to sell it. Unfortunately after 4 goes it has still not sold with the promise from my friend if it sells he would help me out. As the property has not been able to be sold I am now left with little savings and only my pension.I am sorry this has happened and really regret it but as said before we all make mistakes.Perhaps its a case of listening also to too many people.No I have not had a tax bill yet and only been looking on the internet at the percentages they go by for savings.Perhaps I should have gone home earlier but again I was told various things by different people and sometimes even the internet contradicts each others sites. Perhaps as a non resident you do not pay tax on your savings but now I am in the position of having stayed over the time limit and now a resident I am told you do pay tax on your savings (I wish the no tax on savings was true) I could then enjoy this christmas and new year a little without having to scrimp and scrape every penny I can. I have also been told that if my tax is not paid I would not be able to claim back my UK tax as the form would not be issued.Yes I have got myself into a right mess by forgetting all this and still thinking everything would be okay because I am still paying tax on my pensions in the UK but my worry is the tax on the savings. That is why I wrote about possible loans etc so I could contact them at the time I get my tax demand. I have now moved to smaller appartment to reduce my outgoings and selling my car to help.I have one item of hope from one of your replies concerning the tax office may be able to help with some sort of plan. I have been nearly driven to suicide over this worry of how am I going to pay a large bill when it comes. I have to vacate the place I am staying in due to the owners huge debts he has to sell the bunglow before my agreement is due to end and the water and electric is being cut off by the community as he has not paid the bills. So everything is happening at once. So no this is definately not a wind up. I wish it was and I was sitting here laughing but I am definately not. Anyway thanks for some of the advice hope you have a good christmas and new year.





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11 Dec 2014 08:33 by johnzx Star rating in Spain. 5239 posts Send private message

Disgruntled.

Sorry but your post is so uninviting to read, as one huge block of words, I just cannot be bothered.

If you changed your style to use paragraphs that would help !





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11 Dec 2014 08:51 by Team GB Star rating. 1245 posts Send private message

Team GB´s avatar

I repeat

Savings are not taxable only any interest earned on them, Have a read of this page and the other content - This is a well respected company

http://www.advoco.es/home/22-latest/41-spanish-income-tax.html



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11 Dec 2014 08:58 by johnzx Star rating in Spain. 5239 posts Send private message

Savings are not taxable only any interest earned on them,

 

For clarity.

They are not (as income) but if your assest are high enough that you must pay Patrimonio Tax, then in effect they are





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11 Dec 2014 09:00 by Team GB Star rating. 1245 posts Send private message

Team GB´s avatar

PS

If you really do want a loan, this company is the new kid on the block - apparently they are changing the way loans are applied for and administered in Spain. Please don't take my word for it though, it's unlikely you will get a loan without a work contract anywhere.

https://www.cetelem.es/banco/



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11 Dec 2014 09:03 by floella Star rating in SE Spain. 772 posts Send private message

Sorry, at a loss to understand why you think you will need a loan to pay a huge tax bill or indeed either of your postings. Appreciate it maybe different where you are to mainland Spain.

Although it is as John states one is tax resident from the instant of standing on Spanish soil in reality people have 6 months ( 182/3 days )to decide whether or not to stay. That is your statutory right. So, unless you started continuously working from that precise moment, assume your tax year is from when you decided to become a resident ,in March.

Mainland Spain,  from Jan 1st until 2pm 30th June you will have to send off a tax form , a year in arrears, stating your tax paid UK pensions and amount of your now depleted savings. Less than 50k no requirement to mention. Neither, according to your posting ,have any assets.

As Spain and UK have a double taxation agreement within about 6 weeks of sending a copy of Spanish tax form to UK your tax will be reimbursed. 

Tax due can be paid in 2 installments, without penalty and with the need to use your savings to top up your 2 small company pensions wouldn't have thought a loan, which reading your posting you probably would have problems repaying, would be necessary.

So enjoy Christmas.

 

 

 





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11 Dec 2014 09:13 by Team GB Star rating. 1245 posts Send private message

Team GB´s avatar

Where's my dislike button gone johnzx!!

For clarity.

They are not (as income) but if your assest are high enough that you must pay Patrimonio Tax, then in effect they are

This brings no clarity to Dave's worries and may only confuse him more!! Patrimonio is a wealth tax on assests exceeding 2 million euros for a married resident couple, 



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11 Dec 2014 09:56 by baz1946 Star rating. 2177 posts Send private message

The biggest mess your in is listening to, it seems, many people with different views, plus the internet, instead of going to the correct people in the first place.

Team GB has told you that your savings wont be taxed only the interest, and as all interest rates are at rock bottom the tax on that could amount to next to nothing.

Ian has told you that the tax office will give you time to pay with a small amount of interest added on, but you want a loan from a loan company who you know will put on a hefty interest amount, but still to remember that you haven't even had this tax bill arrive yet.

Maria on here has offered to give you advice, so far the above three have given you excellent advice.

As for your friend who inherited an apartment, some friend I would say, he gets the place for free, you spend a chunk of your savings doing it up,  has anyone told you how hard it is to sell an apartment in Spain for any good price, by the time your friend pays his / hers taxes', estate agent,..If any...Drops the price to sell, Bills etc etc, then the friend buggers of to somewhere you wont find them, I cant help thinking that your savings are going on holiday with them.

Yes, we all make mistakes and always will, being driven to suicide over this is not the answer...Suicide is permanent...Losing money is temporary.

Go now to the correct people for the correct advice...And stop worrying, if worrying will change the situation then worry...But it wont.

PS...Thanks Ian for dropping the thumbs down, albeit you ruined the day for my thumbs down hoppo.





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11 Dec 2014 10:50 by Mickyfinn Star rating in Spain and France. 1839 posts Send private message

This is the best advice I can give the OP. If this fails seek some medical help because clearly you are in need of counselling..

http://www.helpguide.org/articles/anxiety/how-to-stop-worrying.htm



_______________________
Time is the school in which we learn Time is the fire in which we burn. Delmore Schwartz.



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11 Dec 2014 13:13 by disgruntleddave Star rating. 4 posts Send private message

Guys and Gals,

Thanks ever so much for your help the worry of having to pay a large ammount of tax on my actual savings has now diminished that was my biggest worry. Once i have received the tax bill at the end I can see the tax people if neccessary and work out something with them.I shall still however live within my pension as opposed to my savings as from now. I do not know how to thank you all so much for your help. Christmas has now brightened up for me at last. THANKS THANKS THANKS Happy christmas and happy new year to you all. I shall allways keep on this site. It just seemed as though it was one bad thing after another with no escape but now with your help and advice I can see things better.





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12 Dec 2014 18:21 by mariadecastro Star rating in Algeciras (Cadiz). 9290 posts Send private message

Legal Questions? Speak to Maria Direct

Great! Let´s keep the positive contribution coming!



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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