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.

Loafing Along

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

Mustard

That's very helpful. Many Thanks!