Camposol, the ups and downs of the builds - Page 4

reading with interest, therefore as  your buying a villa as a 55yr old retiree all year round  then living on savings , why do have to show income when you have none ?  , as your  living over 6mnth are you not then classed as resident, your not dependant on anyone, self sufficient .

or is it the case that if no income you have to prove you have funds to support yourself ? i thought that having private medical care was enough ?

also, if you did have a private pension and was structured to keep you below personal allowance  then there should  be no tax to pay, 

correct? 

state pension is only worth ￡8500 pr yr why would you have to pay tax in spain when its below allowances ?

thanks 

Thank you this is really helpful to us. We are coming out on 17th June to view several properties on and also near camposol. We are meeting someone from Mercer's who upto now as been so helpful. So your reply as helped knowing they are helpful re. All info needed etc.

Thanks 

you will be taxed on private pension , if resident , but you get allowances upto roughly 10000,

u can structure  your pension to  come under this, no tax, top up needs with savings ,

drip feed spanish acc from uk acc, keep uk  savings below ￡43,000

fill in tax return for first yr , if your income is under, where no tax is due, then no need for return for following yrs

when state pension kicks  in, then you will pay tax  on both 

see costa blanca forum, those guys are more clued up, try  talkquesada forum, look for marcliff

 or spanish tax calc

Interesting thought...but I was under the impression that when you became a resident of Spain all your world wide assets became taxable in Spain ...even your UK pensions.

allowance in Spain is much less than UK...only government pensions remain taxed at source..

Personal allowance:

5,550€

Over the age of 75:

1,400€

Total:

6,950€

Up to 6,950€

tax free

5,500€  taxed at (20%)

1,100€

7,750€  taxed at (24%)

1,860€

3,800€  taxed at (30%)

1,140€

Total to pay:

4,100€

there are additional allowances for private pension, or for children, check other forum, 

only over 50000e then u have to declare , 

Hi I’m thinking to buy flat in. moratalla what is the the tax for the flat will cost just for holiday use maybe rent

Good morning 

I suggest you go to a real estate agent in the area,they should be able to answer those kind of questions quite easily for you.