taxes
 

I have read more than a few threads and the detailing of local taxes has been very thorough and helpful.

National taxes is the one that has me confused.

I already have an NIE fom the sale of my late mothers Spanish property in the early 90's

My wife is non European and we have two children aged 4 & 6 who are British, as am I.

are there

1/ personal tax allowances like in the UK

2/ CGT allowances are there any? most of my income is derived from using my UK cgt allowance same for my wife. Our incomes are on the tax threshold so we do not pay income tax either. This gives us about 40,000GBP a year with very little in the way of UK income and CGT liabilities, if any!!

Sorry if this has been covered elsewhere, I did wade my way through threads that I thought may assist but have drawn a blank.

I have no issue with paying taxes that are due. I just want to know if the amounts payable make it a deal breaker.

Re: taxes
 

The best way to find the information you are asking for by doing an internet search. There are countless sites covering Spanish personal tax rates. Try this one as a starting point:

Spanish tax rates and allowances for 2016.

Re: taxes
 

thanks for that link, I did try google but clearly did not refine or define my search parameters

So no low level exemptions at all for Spain for either income tax or CGT makes it a very expensive place to live, makes me wonder how the low income residents manage.

Once again thanks

Re: taxes
 

There are numerous allowances against income tax depending on your income and personal circumstances. For a single person they can be as high as €11250 with extra allowance for age over 65 and for dependant children.

There are no low level allowances against capital gains apart from property under certain circumstances.

For a comprehensive guide to income tax, look here

Spanish Income Tax for residents. - Andalucia.com

Re: taxes
 

Once again ty for your help. adding the children into the allowance makes us pretty much tax free on pension incomes. looks like investment income is hit hard unless they offset the 10 % dividend tax deducted at source in the UK. Looks like way too much of my income is from investment, seems it is regarded as a penal form of income.

Once again thanks

Re: taxes
 

I agree totally. I am in the same position as you (retired and having income from investments). The way Spain taxes capital gains from securities is the main reason I cannot justify moving to Spain.

If you are interested in considering other countries in Europe with more favourable tax treatment of investment income, Malta would be a good choice. Portugal has its Non Habitual Resident scheme, which may be worth exploring. This scheme has been discussed at length in the Portugal forum, for example:

http://britishexpats.com/forum/portu...income-869802/

Re: taxes
 

Thanks, I was thinking maybe its just me!!