18 Jul 2015 10:25 AM:

 

I have taken up full residence status in Spain ( near to Alicante ).
I have an existing Isle of Man Life Investment Bond.

A firm called DeVere have told me to cash this in and to start
a plan with an Irish firm called SEB.

But my original advisor in Switzerland says that there is a real
danger that all of my gain on my IOM Bond could be taxed
with the top level being at 27% !  The Bond has been in force
for 11 years but I have only been a tax resident in Spain for
one year.

Can the Spain tax man really do this to me !?

I have also been told that the tax man might even view the
proceeds as an 'add on' to my pension income and will tax
all of the cash in sum rather than just the gain….this seems preposterous !

Can anyone advise any solution s.v.p ?

 

Thread: Pain in Spain !!

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