Spain Referred To Court of Justice Over Succession Tax Rules
Posted by admin on Nov 25, 2011 in Blog, Spanish Taxes, Tax Planning Spain | Comments Off
The European Commission has referred Spain to the EU’s Court of Justice over its succession tax rules. The Commission argues that the rules are discriminatory because they require non-residents to pay higher taxes than residents, even if they live elsewhere in the EU. It remains to be seen how Spain responds – it does not...
Spanish Property-Now the UK Taxman Targets Overseas Property
Posted by admin on Nov 22, 2011 in Blog, Offshore Banking, Spanish Taxes, Tax Planning Spain | Comments Off
Are you a UK resident who owns property in Spain? HM Revenue & Customs (HMRC) has announced its latest tax evasion crackdown, and this time the focus is on taxpayers who own property abroad. If you are a higher rate UK taxpayer, you could be affected if you own a holiday home, investment property or land outside the...
Spanish Tax – Beware the Spanish Tax Bull!
Posted by admin on Jul 30, 2011 in Blog, Spanish Taxes, Tax Planning Spain | Comments Off
Moving to Spain. Many people moving to Spain take one of two views when they leave the UK: they either consider that they can remain paying taxes in the UK and that they won’t be ‘found out’ by the Spanish tax authorities, while others prefer to bury their head in the sand, either finding someone to fill in tax returns...
Tax Implications of Owning a Property in Spain
Posted by admin on Jan 24, 2011 in Blog, Buying Spanish Property, Selling Spanish Property, Spanish Taxes, Tax Planning Spain | Comments Off
If you own, or are thinking of buying, property here in Spain, you need to be aware of all the tax implications and what your tax liabilities are, both in Spain and your home country if you are not resident in Spain. These vary depending on where you are tax resident and what you intend to do with the property: holiday home,...
Spanish Tax Planning – It’s 2011. Will July Impact On Your Savings And Tax Planning?
Posted by admin on Jan 14, 2011 in Blog, Invest in Spain, Offshore Banking, Tax Planning Spain | Comments Off
It’s now 2011 and 1st July will mark significant changes to tax rates on offshore savings. The withholding tax rate applied under the EU Savings Tax Directive (STD) will jump to 35% from 20% and the Isle of Man and Guernsey will start to exchange information on bank accounts held by EU residents (Guernsey possibly even...
The benefits of a QROPS pension scheme for Spanish residents
Posted by admin on Jan 14, 2011 in Blog, Tax Planning Spain | Comments Off
An international pension arrangement known as a Qualifying Recognised Overseas Pension Scheme (QROPS) can be of real value for British expatriates who are resident in Spain. A QROPS offers a number of attractive advantages, including tax efficiency and the potential to improve your income. UK pension funds remain under UK...
Offshore Trusts for Tax and Wealth Management in Spain
Posted by admin on Nov 10, 2010 in Blog, Invest in Spain, Spanish Taxes, Tax Planning Spain | Comments Off
Trusts can be particularly useful for British expatriates who live in Spain for tax mitigation purposes and also for arranging your wealth for the benefit of your family. What is a trust? A trust is a legal relationship which exists between the settlor, the beneficiaries and the trustees. For tax purposes, a trust is...
Paying Tax in Spain – Exploding the Myths
Posted by admin on Aug 11, 2010 in About Spain, Blog, Offshore Banking, Spanish Banks, Spanish Property Market, Spanish Taxes, Tax Planning Spain | Comments Off
Many British expatriates arrive in Spain to live without fully understanding the local tax situation or any obligations that may remain to the UK taxman. There are quite a few myths around and unless you are properly informed you may get your tax planning wrong. This article looks at some of the common misconceptions and...
Spanish Tax Planning-Offshore Banking Moves Further Towards Tax Transparency
Posted by admin on Aug 11, 2010 in Blog, Invest in Spain, Offshore Banking, Spanish Banks, Spanish Taxes, Tax Planning Spain | Comments Off
When Tax planning in Spain few expatriates used to think twice about opening an offshore account. They provide a means of keeping Sterling outside the UK (useful to help prove your UK-non residency status); you can usually open and use them from anywhere in the world; interest rates were often higher than their onshore...
Spanish Economy-Were The EU Bank Tests Stressful Enough?
Posted by admin on Aug 11, 2010 in Blog, Invest in Spain, Spanish Banks, Spanish Taxes, Tax Planning Spain | Comments Off
On 23rd July the results of the much anticipated stress tests on European banks were published. There were no surprises, with just seven out of the 91 banks tested across the 27 EU Member States failing. But does this mean that European banks are safely out of the woods? While the results will hopefully give the markets...
Spanish Tax Rise to Target the Wealthy
Posted by admin on Jun 14, 2010 in Blog, Spanish Banks, Spanish Property Market, Spanish Taxes, Tax Planning Spain | Comments Off
Wealthy individuals living in Spain need to brace themselves for an unexpected tax shock. Spanish Prime Minister, José Luis Rodríguez Zapatero, has announced an imminent tax increase for “those who actually have more”. Whether this is the last of the tax rises or there are more to follow remains to be seen. It raises...
Reduce Spanish and UK Inheritance Tax with A QNUPS
Posted by admin on Jun 14, 2010 in Blog, Buying Spanish Property, Invest in Spain, Selling Spanish Property, Spanish Property Market, Spanish Taxes, Tax Planning Spain | Comments Off
British expatriates living in Spain want to feel confident that their wealth will last them for the rest of their retirement and keep them in a comfortable lifestyle. Paying less tax is one way to protect your assets and legitimate tax planning methods can help with this. The latest arrangement available to British...
Spanish Capital Gains Tax Relief on the Main Home
Posted by admin on Apr 28, 2010 in Blog, Selling Spanish Property, Spanish Taxes, Tax Planning Spain | Comments Off
Does It Apply On Overseas Properties? The Spanish gains tax regulations can provide relief on the sale of the main home for Spanish tax residents whose property qualifies as their habitual main residence. If you are 65 years or older the gain is tax free even if you do not buy another property. If you are under 65, the...
Spanish Tax Planning – Opportunities For British New Tax Planning Expatriates – QNUPS
Posted by admin on Apr 23, 2010 in Blog, Spanish Taxes, Tax Planning Spain | Comments Off
On the 15th February 2010, a new UK HM Revenue & Customs (HMRC) statutory instrument came into force, the implications of which create significant opportunities for British expatriates to save local taxes in Spain as well as UK inheritance tax (IHT). The UK legislation has now created a new type of trust known as...
