Tax liability when living in Spain advice please?

[jacab]

Hi I will be moving to Spain soon in the next 2 months and would like to ask if anyone has had any experience of what happens regarding tax liability when living in Spain?.
I will not be working for the time being at least 1 year recovery, only income is interest from capital on savings in the uk which is where savings are staying apart from some money deposited in Spanish bank to live for 1 year.
I have paid tax in the uk already on my interest as it is deducted at source from building society I then get net interest, has anyone been involved with this side of things that can help?, I don't want to get fleeced by international tax advisors which quoted me ?580 plus vat for e-mail or phone advice and wanted money up front!-I am not mean but also feel like this rip off price is unsustainable!
Also how does this wealth tax work is it on INCOME or ASSETS e.g. total money and property everything?
many thanks,

[Glyn the Lawyer]

Hi,

580 euros is indeed expensive. From experience to file an annual return you should expect to pay only a few hundred euros at the most - assuming that is that your tax affairs are relatively straightforward.

Wealth tax is on your assets. You may want to look at the taxation website which has information in English - Agencia Tributaria

Regards

Glyn Moran
Partner
CB Legal & Fiscal Consultants
Tel.: +34 966 472 660 / +34 699 838 795 / Fax: +34 966 472 510
info@legalandfiscal.com / Costa Blanca Legal and Fiscal
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