Gibraltar and penson

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16 Feb 2018 11:00 PM by dbd Star rating. 63 posts Send private message

Could somebody correct me if i am worng but........... As far as I am aware the pension only becomes taxable when it leaves britain. Therefore why could i not simply open a bank account in Gibraltar  and transfer the pension there. Then every now and then drop down to withdraw some money and then everybody is happy ..............................arean't they...........................except the

Spanish tax authorities..

 


This message was last edited by dbd on 16/02/2018.



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17 Feb 2018 7:53 AM by johnzx Star rating in Spain. 5240 posts Send private message

If  you live in Spain you are taxable on your worldwide income. So even say a win on Premium Bonds,  benefits which are tax free in UK,  etc.  That is no matter what you do with the money.

If you are taxable in UK then the OAP is added to any other income and you are taxed on it all.

Gib reports to Hacienda on everyone who is registered as living in Spain

Sorry DBD you have not found the 'golden loophole'

 


This message was last edited by johnzx on 17/02/2018.



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17 Feb 2018 8:22 AM by Kavanagh Star rating in Oil Drum Lane Newcas.... 1225 posts Send private message

Kavanagh´s avatar

** EDITED - Against forum rules **

 


This message was last edited by eos_moderators on 2/17/2018 11:50:00 AM.

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