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If I retire early to Spain...and in a few years I will get a lump sum from my private pension of about 60000 Euro...how much tax would I have to pay to Spanish revenue ....also on any inheritance thanks
Posted: Sun Sep 30, 2018 11:56am
Helpful member
It's not advisable to post personal info on an open forum. You might get several views from people on here, but the best way to get the info you need is to talk to a financial advisor specialising in Spanish financial law. Very easy to make a financial mistake.
Posted: Mon Oct 1, 2018 9:32am
Super helpful member
you will pay a lot of tax on any lump sum here!! Best way is to take it the year before you move here!
Posted: Mon Oct 1, 2018 10:22am
Helpful member
If possible take the lump sum before you become a fiscal tax paying resident in Spain, if you take that kind of lump sum as a Spanish taxpayer you will lose 40%+ in tax in and any other income will also be at that level for that year.
The other option would be to invest it without taking the lump sum and draw it down annually managing your income against the tax levels.
You will need financial advise on investments based on the pension amount you are indicating...read up on QROPS, they are not for everyone...
I am going through exactly your situation right now...recently retired at 55 but moving to Spain in soon but will be a fiscal resident in 2019 so I keep my pension lump sum,
