Originally Posted by Rosemary (Post 11621598)

Hi and a warm welcome to the Spanish forum on BE. Myself and Fred James are the moderators for the Spanish forums whilst BEVS moderates Europe. Moderators are there to ensure that the site runs smoothly within the rules of BE. This is so that members gain the information that they are looking for and find their experiences on the forums to be friendly and worthwhile.

Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.

Please let me know if you need any further help.

Rosemary

Originally Posted by roxypotter (Post 11622949)

Hi all..

Just in the early Stages of Researching the ins and outs of living in spain... so please be kind..

I currently.have a portfolio of houses in the uk which basically i rent out..

My question is this..

The money i earn in.the uk will be approx £3000 per month off the rentals... do i have to pay english taxes or.spanish taxes or.both..

This is where im.confused.. its a english business so to speak.. as i have a property management company looking after them...but i want to live in spain and retire there..

cheers

Steve

Originally Posted by EsuriJohn (Post 11622987)

Your in pretty bad position if you want to be above board and become resident in Spain more than 183 days a year. You would have to declare all your assets on form 720 this means the Spanish Taxman knows your wealth. In addition you would have to pay UK tax and Spanish tax on your rentals. It is possible to get the UK taxman

Originally Posted by roxypotter (Post 11622949)

Hi all..

Just in the early Stages of Researching the ins and outs of living in spain... so please be kind..

I currently.have a portfolio of houses in the uk which basically i rent out..

My question is this..

The money i earn in.the uk will be approx £3000 per month off the rentals... do i have to pay english taxes or.spanish taxes or.both..

This is where im.confused.. its a english business so to speak.. as i have a property management company looking after them...but i want to live in spain and retire there..

cheers

Steve

Originally Posted by roxypotter (Post 11622935)

Hi rosemary...how do i write new subject?

Originally Posted by roxypotter (Post 11622998)

Cheers for.reply..

sounds like i just have to find a.few.loopholes or.basically buy more properties in uk.. in 8 years time...all property will be morgage free.. meaning i could.sell.all property.and make a few million on.them...but ideally wanted just live of the rental market

Originally Posted by Mitzyboy (Post 11623082)

Trouble is, you sell your property and you convert to cash ..... and then you have to declare the cash to the Spanish Government as well. Under Spanish tax laws in your situation (by the sounds of it) you have to declare all assets, all investments and all income

Originally Posted by roxypotter (Post 11623470)

Thanks for reply..

I know realise why spains economy is suffering in so many ways... they are trying tax ex pats to the hill... and trying get as much tax of them as possible.. even though the money is earned in the uk and has already been taxed on.... they want tax you again...

Kinda dont make sense.. as people who live in spain... i.e expats will spend uk earned money in spanish shops. Restaurants and bars etc.. and buy property there and live there permanently and thus improving economy and jobs etc..

Originally Posted by roxypotter (Post 11623470)

Thanks for reply..

I know realise why spains economy is suffering in so many ways... they are trying tax ex pats to the hill... and trying get as much tax of them as possible.. even though the money is earned in the uk and has already been taxed on.... they want tax you again...

Kinda dont make sense.. as people who live in spain... i.e expats will spend uk earned money in spanish shops. Restaurants and bars etc.. and buy property there and live there permanently and thus improving economy and jobs etc..

Originally Posted by snikpoh (Post 11623518)

Personally, I don't agree. I can't see much difference between taxation here and taxation in UK.

If you have paid tax in UK and then have to fill in a tax return here, you can offset what you've already paid.

Thanks to the DTA you don't have to pay the same tax twice.



Declaring assets doesn't mean that you have to pay tax on them!

Originally Posted by snikpoh (Post 11623518)

Personally, I don't agree. I can't see much difference between taxation here and taxation in UK.

If you have paid tax in UK and then have to fill in a tax return here, you can offset what you've already paid.

Thanks to the DTA you don't have to pay the same tax twice.



Declaring assets doesn't mean that you have to pay tax on them!

Originally Posted by cricketman (Post 11623477)

Absolute

Ok.. fair enough..

But why do they need to know assets overseas.. and income.from overseas??

Originally Posted by roxypotter (Post 11623539)

Because in Spain, people are taxed on their worldwide income