Spain recomended as fiscal haven???

Do you have a query about moving to Andalucia and buying property in Andalucia. Find out by posting questions and reading about other peoples experiences.
Jool
Andalucia Guru
Posts: 4915
Joined: Fri May 18, 2007 5:56 am
Location: Coastal Almeria

Spain recomended as fiscal haven???

Postby Jool » Wed May 06, 2009 9:41 am

Full article is on Typically spanish quoting from a newspaper article......
An alternative strategy would be to relocate to country where the tax regime does not seem to be fuelled by the politics of envy. A country that is some circa three hours from office desk to home office, has exceptional road, transport and health infrastructure, some of the best golf courses on the planet, as much beach as you and your kids can dream of, schooling that sits head and shoulders above many of its UK OFSTED counterparts, an average of 325 days of sun a year and an average summer coastal temperature of 36°, a current property market offering real value for money and an EU recognised initiative to ensure that previous planning uncertainties are a thing of the past - need I go on……….

Yes - Ladies and Gentlemen, and I cannot quite believe this either – but I give you SPAIN.

Let me say this quietly to avoid the rush for the EXIT but Spain has as its highest income tax rate – a FOURTY THREE PERCENT ceiling – applicable to earnings in excess of €53,407.

Wealth tax has been effectively abolished in Spain and the personal allowances for all “Resident” earners – regardless of earnings - vary from €8551 for a joint declaration to a cumulative child allowance that rises with the 4th child to €4,182. Consequently, in addition to a saving on income tax of 7% it seems in cash terms earning £150,000 and electing Spain as your tax residency may well leave you, under the current Spanish regime, materially better off.

Now that’s what I call a lifestyle decision. Think on……

Mark FR Wilkins
Domus3Sixty - The Rights Group SL
[email protected]

Lavanda
Andalucia Guru
Posts: 6192
Joined: Thu Jul 29, 2004 1:42 pm
Location: Cáceres Province, Extremadura

Re: Spain recomended as fiscal haven???

Postby Lavanda » Thu May 07, 2009 6:53 am

Very interesting, Jool. I think that those of us eating bread and cheese to ride out the exchange rate battle may, long term, be glad we stayed in Spain after all. :D

katy
Andalucia Guru
Posts: 13752
Joined: Thu Jun 24, 2004 3:45 pm

Re: Spain recomended as fiscal haven???

Postby katy » Thu May 07, 2009 10:28 am

I think that article is codswallop! Who is the "rights group" anyway. It would be very rare for someone to be better off paying tax here. We would pay less in the UK.

Jool
Andalucia Guru
Posts: 4915
Joined: Fri May 18, 2007 5:56 am
Location: Coastal Almeria

Re: Spain recomended as fiscal haven???

Postby Jool » Thu May 07, 2009 1:42 pm

There is a lot of info about him on his website I think

Mark@TRG
Newbie
Posts: 2
Joined: Sat May 23, 2009 4:50 pm

Re: Spain recomended as fiscal haven???

Postby Mark@TRG » Mon May 25, 2009 9:40 am

Dear Katy,

I do appreciate the trouble you have gone to to air your views on my recent piece of "tongue firmly in cheek" observation. Please don't take me so seriously - but I believe that nothing I have commented on is factually incorrect.

I believe that we all have a responsibility to encourage visitors to the Costas and to raise those positive aspects in Spain that could bring benefit to their lives. Aren't you yet sick of the worldwide media negativity that seems devoted to Spain bashing? I know I am.

Regards,

Mark

scotty
Resident
Posts: 1044
Joined: Wed Apr 08, 2009 10:07 am
Location: Dublin / San pedro de Alcantara.

Re: Spain recomended as fiscal haven???

Postby scotty » Mon May 25, 2009 9:52 am

Hi Mark, how about giving some of the board users here some advice. :wink: Nothing too complicated but a taste of what we could get if we went to someone like you guys.

katy
Andalucia Guru
Posts: 13752
Joined: Thu Jun 24, 2004 3:45 pm

Re: Spain recomended as fiscal haven???

Postby katy » Mon May 25, 2009 10:10 am

I do think some of the negativity about Spain is unjustified. Wouldn't go as far as to think it is my responsibility to encourage visitors to the Costas as I am not earning money out of them. I do feel I should point out that people giving any sort of financial advice (in Spain) should be treated with caution and that there is no such a thing as "free" advice (Admin edit). Infact advice from many Companies (Admin edit) have cost ex-pats millions of euro and helped to give the coast it's negative reputation as a rip-off place.

The advice given in your advertisement contradicts advice given by my Accountant although I realise that every Taxpayers circumstances are different. Before anyone contemplates taking any advice I would suggest they read the Costa action group website.

Jool
Andalucia Guru
Posts: 4915
Joined: Fri May 18, 2007 5:56 am
Location: Coastal Almeria

Re: Spain recomended as fiscal haven???

Postby Jool » Mon May 25, 2009 11:58 am

Scotty he would not be allowed to by Admin as it would be seen as unpaid advertising, but you can go to his own website......look up the words Mark and then the Rights Group on google

Mark@TRG
Newbie
Posts: 2
Joined: Sat May 23, 2009 4:50 pm

Re: Spain recomended as fiscal haven???

Postby Mark@TRG » Mon May 25, 2009 1:55 pm

Katy,

Scotty, thanks for your suggestion but I am not an Accountant. I did practice as a Solicitor in the UK for many years.

I am concerned by the nature and content of certain postings that have appeared today on this site.

Katy, to avoid any further misunderstanding, may I have your contact details so we can discuss your comments further off line.

Regards,

Mark

katy
Andalucia Guru
Posts: 13752
Joined: Thu Jun 24, 2004 3:45 pm

Re: Spain recomended as fiscal haven???

Postby katy » Mon May 25, 2009 2:17 pm

I don't give anyone my contact details. I stand by what I posted above and do not wish to discuss it further. You have an opinion and I have mine :roll:

scotty
Resident
Posts: 1044
Joined: Wed Apr 08, 2009 10:07 am
Location: Dublin / San pedro de Alcantara.

Re: Spain recomended as fiscal haven???

Postby scotty » Mon May 25, 2009 4:12 pm

Time for a moderator (admin) to step in & delete the thread or lock it. Speaking as a mod on a car forum ....when people start wanting to talk offline it normally goes the "legal" route.

Jool
Andalucia Guru
Posts: 4915
Joined: Fri May 18, 2007 5:56 am
Location: Coastal Almeria

Re: Spain recomended as fiscal haven???

Postby Jool » Mon May 25, 2009 4:53 pm

Katy - if your info about tax being less in the UK then why do so many pensioners choose to be taxed in Spain? Unfortunately we cannot but it seems there is a significant difference whereby pensioners who are taxed in Spain are significantly better off ......is it jsut different for pensioners?

Now I´m confused as its all got personal and I don´t read Katy´s comments as aimed at Mark but at certain IFA´s of the past and possibly some still current ....what do you do for work now Mark?

katy
Andalucia Guru
Posts: 13752
Joined: Thu Jun 24, 2004 3:45 pm

Re: Spain recomended as fiscal haven???

Postby katy » Mon May 25, 2009 5:05 pm

I am not a pensioner but if you live here year round you do not "choose" where you pay tax. I think to describe Spain as a fiscal tax haven is utter rubbish actually........

El Cid
Andalucia Guru
Posts: 16059
Joined: Sun Oct 24, 2004 10:42 pm
Location: La Herradura, Costa Tropical, Granada

Re: Spain recomended as fiscal haven???

Postby El Cid » Mon May 25, 2009 7:19 pm

Jool wrote:Katy - if your info about tax being less in the UK then why do so many pensioners choose to be taxed in Spain? Unfortunately we cannot but it seems there is a significant difference whereby pensioners who are taxed in Spain are significantly better off ......is it jsut different for pensioners?
As Katy said, you cannot choose where to be taxed - that depends on where you live.

Some pensioners with government pensions have the advantage that their government pension has to be taxed in the UK and the UK state pension and any other income is taxed in Spain. That means that they get two sets of allowances and start paying tax at the lowest rate in each country.

If you forget this aspect, the average pensioner will pay more tax in Spain as the allowances are not as good as in the UK and the tax rates are higher. The exception to this is if your pension is in the form of a personal annuity which taxed at a very low rate in Spain.

Although it is less likely for a pensioner, if you have a mortgage then you get considerable tax relief in Spain on the payments, not just the interest, the whole payment is allowable and can be worth up to €1350 off your tax bill and double that if you are taxed separately.

Sid

User avatar
Devils Advocate
Andalucia Guru
Posts: 5597
Joined: Tue Mar 06, 2007 2:38 pm
Location: Sierra Tejeda and England

Re: Spain recomended as fiscal haven???

Postby Devils Advocate » Tue May 26, 2009 3:08 pm

katy wrote:I don't give anyone my contact details
Stick to that as well Katy, what a ludicrous request to a woman on what is essentially a faceless forum, I'd be a bit miffed if it happened to my OH............in a big way.

DA
Property owner in Andalucia since 2002. How time flies.

Jool
Andalucia Guru
Posts: 4915
Joined: Fri May 18, 2007 5:56 am
Location: Coastal Almeria

Re: Spain recomended as fiscal haven???

Postby Jool » Tue May 26, 2009 3:46 pm

you cannot choose where to be taxed - that depends on where you live.
I was referring to pensioners who are currently automatically taxed in the UK in my post, sorry if I misled you

El Cid
Andalucia Guru
Posts: 16059
Joined: Sun Oct 24, 2004 10:42 pm
Location: La Herradura, Costa Tropical, Granada

Re: Spain recomended as fiscal haven???

Postby El Cid » Tue May 26, 2009 9:55 pm

Presumably you are referring to those UK pensioners who have government pensions which are the only pensions which are automatically taxed in the UK.

Sid

barry
Resident
Posts: 519
Joined: Sun Sep 19, 2004 1:14 pm
Location: Cave El Margen,Granada

Re: Spain recomended as fiscal haven???

Postby barry » Wed May 27, 2009 8:31 pm

You can always use the personal message service to send a private message to Katy, if you want, Mark!

katy
Andalucia Guru
Posts: 13752
Joined: Thu Jun 24, 2004 3:45 pm

Re: Spain recomended as fiscal haven???

Postby katy » Thu May 28, 2009 9:38 am

Well, all of you other posters deserve it....just kidding :lol:

Seriously, I think it is a bad idea for a one poster to be able to send personal messages :idea:

JAWG
Resident
Posts: 855
Joined: Mon Oct 10, 2005 2:43 pm
Location: Ottawa, ON, Canada

Re: Spain recomended as fiscal haven???

Postby JAWG » Thu May 28, 2009 2:21 pm

Seriously, I think it is a bad idea for a one poster to be able to send personal messages
Katy - Do you mean one particular poster or any poster (i.e. there should be no facility for pm's)?
John G
Ottawa, ON, Canada


Who is online

Users browsing this forum: No registered users and 18 guests