Chipmonk

IMO. If you cant get around this you should approach the thing from a different angle. As you point out if you had to pay CGT it is something like 70.000 euros. Now that is alot of money and really for what? So you can live permanent all year in another country whose main attraction will probably be the weather. However, you will still be able to buy a property in spain after Brexit and you will be able to live in it for 3 months every 90 days. This means you can effectively live half your time in Spain and half in UK. Now 70.000 euros would actually buy a quite nice little flat in the south of spain most likely with a communal pool and near beaches. You dont need to pay anything like council tax in size of tax so it's cheap to run. Plus you will get bored with spain eventually and however much you might think it you probably will never learn the language sufficiently to abandon your culture and way of life. Also as you grow older health worries surface and despite spain having a good healthcare system it's not going to be the same as in the uk where you can chat quite freely with full understanding and you do need that when you are worried sometimes. Also remember that many of your close friends will be in uk and they are hard to replace on a deep level as you grow older. So , if you cant do this move wait a while until retired. Sell UK house, buy a smaller one in uk and a small one in Spain and stay in spain for two long periods every year.

Keithtoon

Thank you guys,
Radical rethink time.

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
"If it is your habitual residence (for at least 3 years) and you are over 65 there is no capital gains to pay. Note:if you move to Spain and set up your habitual residency here, in a rented or purchased property, your UK property will no longer be considered your habitual residence (even though you might have lived there for many years) and thus does not meet the requisite for exemption of Capital Gains when you eventually sell it"
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
So if we move after the deadline 1st Jan 21 I can sell the house but will need at least £32,000 in our account to become residents but then lose out to increase in Gov Pension (47 years paying NI) also will have have Full Privat Health Insurance?
Bloody Harsh.....
Regards
Keith.

Joppa

It's not so much a lump sum of £32,000 as an annual income.
If you miss the boat to be covered by Brexit withdrawal agreement, you will no longer get guaranteed annual pension increase (unless UK and EU or Spain conclude a new deal now or in the future), and UK won't cover your future healthcare cost in Spain (no longer eligible for S1 certificate), so you need to have at least a year's private medical insurance and then, if you prefer, contribute to the state health insurance scheme at a rate of 60 euro/month up to 65 and 157 euro after called Convenio Especial.
Yes, it is harsh but that's the cost of Brexit for would-be expats.

jonboy

Really good post there Chipmonk! Bang on with your take on the situation.

bob_bob

I've heard taxes mentioned a few times over the years, certainly heard some say "Our budget is £XXXXXX but that must include all taxes"

missile

Really, Must have been watching a different channel to me

bob_bob

Perhaps I watched more episodes or just pay more attention.

missile

LOL