the new government

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ashtondav
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Location: Northampton Frigiliana

the new government

Postby ashtondav » Sat Jan 11, 2020 7:38 pm

Not a lot said yet on this forum but i'm betting on higher levels of tax and CGT at the very least.

Making sure i stay in (relatively) low tax UK and visit less than 6 months.

Now had they introduced a flat 10% tax for all new tax residents for 10 years i'd have ditched the uk and moved lock stock and barrel to SPain.

Funny old world.

El Cid
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Re: the new government

Postby El Cid » Sat Jan 11, 2020 10:00 pm

The proposed income and capital gains taxes will only apply to people with more than a 6 figure income.

Sid

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fyfin
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Re: the new government

Postby fyfin » Sun Jan 12, 2020 10:58 am

I think the reason you'll not see much on here is because we don't think it'll impact very much on most of us. There's not a huge difference in the tax situation between UK and Spain. People get confused because for example the personal allowance in Spain for a pensioner is only €6,700 whereas in UK it's £12,500. However, it's a bit more complicated than that in Spain e.g. there's an additional €2,000 allowance in Andalucia anyway and then there's special allowances for low income earners or pensioners. I'm not sure exactly how this works but there is additional allowance for low income and it works on a sliding scale up to €14,450, so in essence if you earn around €12,000 you pay little or no tax.

Obviously still a higher tax regime than UK but for us it's offset by the lower cost of living and the health benefits of an outdoor lifestyle.
We certainly are not concerned and irrespective of whatever might change there's no chance of us returning to UK. (just watched the weather forecast for UK lol)
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ashtondav
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Posts: 1512
Joined: Mon Feb 07, 2005 8:10 pm
Location: Northampton Frigiliana

Re: the new government

Postby ashtondav » Sun Jan 12, 2020 4:14 pm



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