UK Annuity: Spanish Tax Resident
Jan 7th 2019, 6:37 pm
#1
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Joined: Aug 2012
Location: Granada Province
Posts: 549
UK Annuity: Spanish Tax Resident
Hi All!
I am in the process of 'cashing in' a UK based Annuity that I have had since 2013. It will be in the Region of 6300 euros. I anticipate the funds will hit my Spanish bank account in February 2019. I have been a Spanish tax resident since 2015, and declared the 400 euros annual income from the same Annuity every year. I am aware that Spanish Annuities can be purchased each year up to (I think) 8400 euros, and they would be tax exempt...……………. but this is a lump sum from a surrendered UK Annuity and I think I may be liable for Tax this year on the whole amount.
Anybody been in a similar position please?
Thanks in anticipation.
I am in the process of 'cashing in' a UK based Annuity that I have had since 2013. It will be in the Region of 6300 euros. I anticipate the funds will hit my Spanish bank account in February 2019. I have been a Spanish tax resident since 2015, and declared the 400 euros annual income from the same Annuity every year. I am aware that Spanish Annuities can be purchased each year up to (I think) 8400 euros, and they would be tax exempt...……………. but this is a lump sum from a surrendered UK Annuity and I think I may be liable for Tax this year on the whole amount.
Anybody been in a similar position please?
Thanks in anticipation.
Jan 8th 2019, 10:11 am
#2
BE Forum Addict
Joined: Jan 2016
Posts: 2,320
Re: UK Annuity: Spanish Tax Resident
Hi All!
I am in the process of 'cashing in' a UK based Annuity that I have had since 2013. It will be in the Region of 6300 euros. I anticipate the funds will hit my Spanish bank account in February 2019. I have been a Spanish tax resident since 2015, and declared the 400 euros annual income from the same Annuity every year. I am aware that Spanish Annuities can be purchased each year up to (I think) 8400 euros, and they would be tax exempt...……………. but this is a lump sum from a surrendered UK Annuity and I think I may be liable for Tax this year on the whole amount.
Anybody been in a similar position please?
Thanks in anticipation.
I am in the process of 'cashing in' a UK based Annuity that I have had since 2013. It will be in the Region of 6300 euros. I anticipate the funds will hit my Spanish bank account in February 2019. I have been a Spanish tax resident since 2015, and declared the 400 euros annual income from the same Annuity every year. I am aware that Spanish Annuities can be purchased each year up to (I think) 8400 euros, and they would be tax exempt...……………. but this is a lump sum from a surrendered UK Annuity and I think I may be liable for Tax this year on the whole amount.
Anybody been in a similar position please?
Thanks in anticipation.
