04 Apr 2013 6:54 AM:

baz1946 - My apologies to you, I've just seen that the original comments on ' this seems to becoming a soap opera.' were made by Rossetti on 3rd April at 19:13 and not by you... my response should have been directed there.

No offence intended to anyone trying to fully understand this law.

Thread: Reporting of Assets Outside Spain and UK Rental Income.

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04 Apr 2013 6:37 AM:

Roberto - Thanks for your understanding that Premium Bonds are treated as Government securities, I'll email National Savings again today and ask them for their formal confirmation on this point, for me it will mean one less entry in class 1 and none in class 2.  

baz 1946 - this seems to becoming a soap opera.

As I've said before why would anyone give the levels of detail stated in this thread to authorities that might just might give you a haircut that we in Canada are used to on our military.

Most people are trying not to make it a soap opera, most people are still seeking to understand in some areas, the example being above where it is not entirely clear where Premium Bonds sit.

In answer to your second point, no one wants to give this information, it is requirement of the law that has been passed and the initital penalties for which are, ' A fine of €5,000 per each piece of unreported data, with a minimum of €10,000 '.

Spain probably doesn't know exactly who is in the country, but this law applies to all people who are tax resident in Spain and therefore they know that they are... and these - for now - are the only people affected. 

People must make their own choice on what they will do, for me any serious input is and always will be  welcome. 

Thread: Reporting of Assets Outside Spain and UK Rental Income.

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03 Apr 2013 10:19 AM:

Team GB  - yes that's my understanding, I have several different items in class 2, but as they do not come up to the threshold of €50,000, I have nothing to report in that class, shame that Premium Bonds don't seem to fit in there.

Don't worry about it being covered before, it's more important that you are sure of what - or not - you need to report.

Thread: Reporting of Assets Outside Spain and UK Rental Income.

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03 Apr 2013 9:38 AM:

TeamGB - If your assets in any one class are in excess of €50,000 you have to report everything that you hold  in that class, Premium Bonds are but a component part of that class. 

€50,000 is only the qualifying figure that requires the need to report everything.

Thread: Reporting of Assets Outside Spain and UK Rental Income.

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03 Apr 2013 9:23 AM:

KathysLad - I think that we have already established that National Savings Premium Bonds fall into Class 1... ' National Savings and Investments (NS&I), formerly called the Post Office Savings Bank and National Savings, is a state-owned savings bank in the United Kingdom '. 

I have just spoken to National Savings and they have told me that there is no BIC or IBAN code for Premium Bonds, as you cannot transfer money into or out of this product. I am waiting for an email confirmation of this point.

There are BIC and IBAN codes for savings accounts.

So on the basis of the chart you submitted,  ' Identification in full CCC ' , could this mean that all of us who declare Premium Bonds are in for a potential € 10,000 - or even € 15,000 - fine before we even start, on the basis of  ' omitting either stating incomplete, innacurate data' ???.

I'll speak to my Gestoria about this.

Has anyone yet submitted a Modelo 720 that contains Premium Bonds ?.

Thread: Reporting of Assets Outside Spain and UK Rental Income.

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