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Will double taxation agreement still stand?

Will double taxation agreement still stand?

Old Sep 11th 2020, 9:24 pm
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Default Will double taxation agreement still stand?

Morning all,

And this is not s post about BREXIT as such, just in light of the news that the UK Gov may tear up the current agreement and go for a no deal option, will this impact upon the current double taxation agreement between the UK and Spain (as this could impact a lot of people financially)?

Thanks,

DTD
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Old Sep 11th 2020, 9:26 pm
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Default Re: Will double taxation agreement still stand?

I wouldn´t have thought so. Britain has a double taxation treaty with many countries...not just EU countries.

I suppose its all conjecture at this stage. What will be will be at the end of the day.
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Old Sep 11th 2020, 9:44 pm
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Default Re: Will double taxation agreement still stand?

Been discussed before and general opinion was yes it will continue.
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Old Sep 11th 2020, 9:56 pm
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Default Re: Will double taxation agreement still stand?

It has nothing to do with Brexit. Tax matters are down to each individual State.
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Old Sep 12th 2020, 1:28 am
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Default Re: Will double taxation agreement still stand?

Thanks for the comments as we are in the process of getting Spanish residencia here in the Canaries, and if the double tax agreement was to go...we would denounce it and head back to the UK!
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Old Sep 12th 2020, 9:12 pm
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Default Re: Will double taxation agreement still stand?

Who can say what will be next for tearing up international agreements? Puppet master "Eyetest" Cummings may have yet more delights to inflict.
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Old Sep 12th 2020, 9:33 pm
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Default Re: Will double taxation agreement still stand?

Whilst the double taxation agreement will no doubt remain this does not apply to all taxes. For example, Inheritance tax is double taxed and also some of the exemptions etc seem to available to only to those residents from EU member states. My lawyer was saying that things were far from clear. Also I see that a group representing UK nationals in EU have written to the British officials seeking reassurance that the UK wont try and undo further aspects of the WA which could affect our rights.
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Old Sep 12th 2020, 10:19 pm
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Default Re: Will double taxation agreement still stand?

Originally Posted by Chipmonk
some of the exemptions etc seem to be available to only to those residents from EU member states.
That was the case until recently with regard to IHT allowance. Take Andalucia, for example. The allowance for close relatives Group 1 and 2) is now €1m and a 99% exemption after that - effectively no IHt to pay but is was limited to beneficiaries in the EU. That is no longer the case as recently two cases were taken to the Spanish Supreme Court who upheld the cases, so now the beneficiary can live anywhere in the world and still get the allowances. This applies to the whole of Spain.
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Old Sep 13th 2020, 12:48 am
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Default Re: Will double taxation agreement still stand?

Originally Posted by Chipmonk
Also I see that a group representing UK nationals in EU have written to the British officials seeking that the UK wont try and undo further aspects of the WA which could affect our rights.
The changes being considered at the moment are to do with Trade Deals and customs regulations. The parts that are of real concern to those living in Spain are to do with Residency rights , medical cover and pension rights. Non of which have anything to do with Trade Deals, they were the first part of the Withdrawal Agreement negotiated and I think any threat to them would not be considered whatsoever by the EU and to be fair I have seen nothing to think they would be considered for change. There may be a group of expats putting 2 and 2 together and coming up with 5?

Last edited by Rosemary; Sep 13th 2020 at 1:46 am. Reason: corrected quote
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