Go Back  British Expats > Living & Moving Abroad > Europe > Spain
Reload this Page >

Advice needed on Pension Plans

Advice needed on Pension Plans

Old Jul 7th 2017, 9:22 am
  #1  
Forum Regular
Thread Starter
 
Mustard's Avatar
 
Joined: Feb 2015
Location: Madrid
Posts: 155
Mustard is an unknown quantity at this point
Default Advice needed on Pension Plans

I’ve lived and worked in Spain for the last 20 years and, with retirement looming, am considering the possibility of returning to the UK.

Yes I am bonkers!!!



I have some Spanish ‘planes de pensiones’ so can anyone advise me what would be the tax situation if I ‘rescue’ these plans whilst retired in the UK; so not being a Spanish resident for that tax year.
Mustard is offline  
Old Jul 7th 2017, 8:38 pm
  #2  
BE Forum Addict
 
Loafing Along's Avatar
 
Joined: Jan 2016
Posts: 2,322
Loafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond repute
Default Re: Advice needed on Pension Plans

Originally Posted by Mustard
I’ve lived and worked in Spain for the last 20 years and, with retirement looming, am considering the possibility of returning to the UK.

Yes I am bonkers!!!



I have some Spanish ‘planes de pensiones’ so can anyone advise me what would be the tax situation if I ‘rescue’ these plans whilst retired in the UK; so not being a Spanish resident for that tax year.
As a non-resident you will not have to pay Spanish Income Tax but you will have to pay a small %age, think it is 6% and this will be retained by your Spanish pension provider. The plan is treated as an asset ( patrimonio ) and taxed according to that critieria. Once in UK you must send a Fiscal Residence Certificate to the Spanish plan provider to avoid them retaining a %age for income tax purposes
Loafing Along is offline  
Old Jul 7th 2017, 11:56 pm
  #3  
Forum Regular
Thread Starter
 
Mustard's Avatar
 
Joined: Feb 2015
Location: Madrid
Posts: 155
Mustard is an unknown quantity at this point
Default Re: Advice needed on Pension Plans

That's very helpful. Many Thanks!
Mustard is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.