Considering moving to Spain - Camposol? - Page 2

In addition to the living costs quoted, please budget for around 12%-13% on top of the purchase price of a property for purchase tax (8% in Murcia, compared to 1.5% for Stamp Duty in the UK), legal fees, etc.

As mentioned, you need to take out private medical insurance for the first year - we're looking at this and have been quoted around €65 pp per month (without pre-existing conditions). You can then choose to continue to pay privately, or pay into the Spanish healthcare system - which is generally thought of as excellent - for around €60 per month. Then when you reach state retirement age, this is free (although this may change after the Brexit Withdrawl agreement). I don't know how this works if you were classed an as Irish citizen.

If you decide to get a car, fuel is slightly cheaper than the UK, as is road tax. However, used cars are more expensive and there is a lot less choice than the UK.

Hope this helps!

Hi Emma,

I am curious on your ongoing thoughts for Camposol and if you have moved forward in any way with the property you showed interest in.

I too am looking at a small property at Camposol and have a similar (tragic) background to you. However, I am able to work from home and would intend to do this should I buy a property in Camposol. Other readers thoughts on this would be appreciated as I would probably be paying taxes etc in the UK - or should I get residency and pay spanish taxes???? Benefits of spanish tax system?????

For interest, the property I was thinking of is as follows:

https://www.rightmove.co.uk/properties/77424627#/

I have seen bad reports of the area, but in the same breath, I see positive reports. Would like to know if you are going to move forward with Camposol, and if so, why Camposol feels right for you. 

It feels like you are closer to the decission than I am and your thoughts and experiences to date would help/reassure me.....or even put me on a completely different trojectory :)

Many thanks, Richard.

Hi Richard

With all the turmoil of heartbreak ... and this blooming pandemic all Spanish moving thoughts are currently on the back burner whilst I try to sort out work and a life after him...

Good luck with whatever you decide! 

Emma 😁

Hi Richard - regarding the tax if you're still working for a UK based company you pay UK taxes, but you do need to declare what taxes you've paid to Spanish authorities, you will need to consult a tax specialist that deal with duel taxes.

If you live in Spain for more than 183 days per year then you are considered a tax resident and also would need to apply for residency anyway - i.e. you can't just choose "should I get residency?".

I've only ever looked at residency in retirement, so I'm not sure how easy it is if you still plan to work - I expect you will still have to provide evidence of sufficient income, private healthcare, etc. 

As per Jaz007's comment, there is a dual taxation agreement between the UK and Spain and you will pay income tax in the UK, but still need to declare your income and the tax you have paid on it on a Spanish tax return. Income tax rates in Spain are fairly similar to the UK (widely available on the internet), however, the personal allowances are a lot lower, which means ultimately you will probably pay a bit more income tax. IBI (the equivalent of council tax) is a lot lower, vehicle fuel price is about 10% lower, cigarette and alcohol prices are a lot lower and much of these prices in the UK are made up of tax, so the overall taxation / cost of living probably balances out...

Hope this helps!

Just what Camposol needs, more dogs.......