Fredbargate

A pension from any statutory pension scheme or provident or other fund approved by the Commissioner and received by an individual who is -

aged 60 or over; or
compulsorily retired at age 55 by operation of section 8 (2) of the Pensions Act, shall not form part of the assessable income of the individual and shall be taxed at 0%


Capital Gains Tax

There is no Capital Gains tax in Gibraltar.

Estate Duty

With effect from 1 April 1997, Estate Duty was abolished in Gibraltar.

Double Taxation Arrangements

A Gibraltar resident who is in receipt of income which is liable to tax in Gibraltar that is derived from and has already suffered tax in any other jurisdiction, shall be entitled to double taxation relief in Gibraltar in respect of that income, of an amount equal to the tax already deducted or the Gibraltar tax, whichever is the lesser.

Leper

Nigel, Congratulations, you are one of the the few people I would advise to retire to Spain. You are not looking for work. You appear to be well financed and you have the drive to make your retirement a good adventure.

Where not to Live? There is only one person who can advise you here and if you look into a good mirror you will see that advisor.

You could move into the best road in Spain with your ideal house in which to live and suddenly you discover your next door neighbour is the local Bore whose greatest aim in life is to make sure nobody enjoys life.

So, I am offering the following advice:-
1. Rent for several weeks in different locations off season. Then you will discover what it is like to live there. The supermarket must be near and open all year round. You need good local bus services.
2. If you choose a resort, then the traffic during July/August comes with it. Resorts have their advantages also i.e. if you feel like returning to the UK for the summer when it gets too hot in Spain you have the option of renting your Spanish home, not a bad little earner. (We do it).
3. You need a Centro Médico nearby or at least the services of a doctor/dentist/nurse etc. Ensure there is a Farmacía nearby also.
4. If you do not speak Spanish, you have no business living in a total Spanish speaking area or even street. Learn Spanish; it is good fun learning and many will help you. Remember, the Spanish want to learn English also.
5. Location near a choice of airports is vital. You never know when you might have to return to the UK on short notice.
6. If you are not fit (and I mean fit; not 32 stone of underworked skin and bone) there is no point living in a mountainous/hilly location.
7. Don't forget, your partner/wife/husband will have needs also. No point in you finding your perfect location and your wife hating the place.

Mediterranean Spain has hundreds of miles of coastline. I would advise you spend some weeks in east Spain, then move on to south-east Spain and later onto southern Spain. It is a renters paradise these years there. Just show up in any area and ask questions; you will have no problems sourcing rental properties and by so doing you will not be paying real estate commission, finders fee etc. So all you got to do is decide on your first location and keep your eyes and ears open. Best of Luck.

For the record:- We bought in Mojácar Playa Costa Almería.

spitfire58

Hi All,
Neptuno, you say living in Spain for more than 183 days classes you as resident. Do you know if this applies to the Canaries, i have seen posts to the effect that one would have to declare as a resident there if staying for more than 3 months. My original intention was to use the 183 days idea to live 6 months of the year in Fuerteventura & 6 months in UK but stay as UK resident. Any thoughts appreciated

Ron

Neptuno

90 days and you must sign on the foreigners register ( aka residency)
183 days and you are tax resident in Spain.
I do not know rules relating to the Canaries, but as they come under Spain, I would assume it 's the same, but if not Ibwill surely be corrected

spitfire58

Thanks Neptuno :-))