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Search: Posts Made By: gemscot1
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Forum: Spain
Mar 11th 2020, 9:45 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

thanks this is really useful
Forum: Spain
Mar 11th 2020, 5:14 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

dont suppose anyone know how easy it is to change residency - i.e. if i was to go back to the uk after 5 years when i get permanent residency for 1 year how do i let the tax authority know that i am...
Forum: Spain
Mar 8th 2020, 9:43 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

actaully found this als0 - so looks fairly straight forwardApplying for a permanent residence documentTo get a document certifying your right of permanent residence, you must submit proof that you...
Forum: Spain
Mar 8th 2020, 9:40 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

thanks found it

After 5 years of continuous residence these conditions fall away, although you have to prove that you met them for a 5 year period, and you can then apply for permanent residence...
Forum: Spain
Mar 8th 2020, 9:28 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

very helpful thanks - this is best solution for me
Forum: Spain
Mar 7th 2020, 4:16 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

these the million dollar question - guess we need to wait and see what rights are given - would be great if as you suggest they allow a lifetime right to reside if you need a year as a non resident
Forum: Spain
Mar 5th 2020, 3:57 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

ok starting to draw up a plan so thanks everyone

i think the optimum solution would be to mover over here and then either do one of following:-

1. if requirements are watered down for uk...
Forum: Spain
Mar 4th 2020, 11:20 am
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

actually looks like pension rights are exempt and also main dwelling together with the 700k limit is per person - so does look like it will be a non issue at least - of course still need to report
Forum: Spain
Mar 4th 2020, 11:11 am
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

firstly thanks everyone for your replies - its useful to hear others thoughts

my concern is that annuity ratrs are so low right now but yes wont need the lump sum as both my uk house and spain...
Forum: Spain
Mar 3rd 2020, 7:52 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

well i guess i could use some of the funds to buy an anuity and leave the rest invested - this will allow me to understand how it it taxed etc and then learn from it - what i have learned in life is...
Forum: Spain
Mar 3rd 2020, 3:53 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

ah right so whilst its inversted I dont declare? - but when it crystalises and an anuuity is purchased that is when i need to declare? - bit worried they will ask where this value came from - i guess...
Forum: Spain
Mar 3rd 2020, 2:37 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

thanks this is a good point - would need to disclose pension value every year - so much to consider lol
Forum: Spain
Mar 3rd 2020, 2:05 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

all comments help - it allows me to build an opinion so when i approach an advisor I can at least be tooled up with some thoughts/opinion
Forum: Spain
Mar 3rd 2020, 1:58 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

wow this is pretty nice to if you claim at say 55 then you pay tax on only 28% of the income and the rest is tax free - certainly makes up for the poor annuity rates - thanks for supplying
Forum: Spain
Mar 3rd 2020, 1:38 pm
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

yes makes total sense - i guess what i need to now understand is if i was to use my whole pot to buy an anuuiity and theredore i take no lump sum how is the monthly payments taxed - will look into...
Forum: Spain
Mar 3rd 2020, 11:05 am
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

if anyone could recommend a pension expert/advisor then that would be extremely helpoful - thanks
Forum: Spain
Mar 3rd 2020, 10:24 am
Replies: 41
Views: 4,155
Posted By gemscot1

Re: moving to spain but worried about pension lump sum

thanks that is the plan - was just hoping that others might share their thoughts - my gut feel is that the lumo sum will be taxable if i am a resident in Spain but as you say an expert will give me...
Forum: Spain
Mar 3rd 2020, 10:01 am
Replies: 41
Views: 4,155
Posted By gemscot1

moving to spain but worried about pension lump sum

I am 52 and looking to moving to Spain this year with my wife to make sure I am not impacted by the brexit nonesense however am a little worried that my actions could impact when i claim my pension -...
Showing results 1 to 18 of 18


 
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