Etiqueta 'living in spain'
The Modelo 720 declaration seen on the computer

Paperwork

Do you need to submit a Modelo 720 this year?

Assets are valued using the wealth tax rules as at 31st December each year. For bank accounts you also need to declare the average balance over the last three months of the year.

Cathal Rochford, Partner Blevins Franks19/03/2024 12:19

Luxury homes in Mallorca

Paperwork

Balearics reduces wealth tax

In welcome news, the government of the Balearics autonomous region announced significant changes to the wealth tax allowances in December.

Cathal Rochford, Partner Blevins Franks22/01/2024 09:39

Spending on education in the Balearics is the second lowest in Spain

Theme of the Week

The Balearic government is spending almost 100% more than it did ten years ago

The bill for the 2024 budget was in danger of being thrown out, as Vox held out for certain pet demands. One of these was a sum of 20 million euros for the so-called free choice of language in education.

Andrew Ede15/01/2024 10:55

Pensions are usually key to financial security through retirement

Paperwork

Resolve to review your financial planning for 2024

If you do not already have a financial plan in place for Spain, take a fresh look at your savings and investments.

Cathal Rochford, Partner Blevins Franks08/01/2024 14:49

Reduction of VAT for essential items such as fruit and vegetables.

Latest headlines

Spain extends some anti-inflation measures into 2024

Spain on Wednesday extended a slew of measures designed to help people cope with high costs of living into 2024, even as the rate of inflation slows.

David Latona27/12/2023 14:58

Pensioners sitting on a bench

Paperwork

Is 2024 the year you consider downsizing your property?

With today’s increased life expectancy, you may need your existing wealth to stretch long into retirement.

Cathal Rochford, Partner Blevins Franks26/12/2023 14:12

Inheritance and gift tax

Inheritance and gift tax

The amendment of the legislation completely eliminates inheritance and gift tax for inheritances between parents and children, grandparents and grandchildren and spouses.

FREEPIK 06/12/2023

Inheritance and gift tax

Paperwork

Spanish succession tax in the Balearics

SSGT applies to inheritances and lifetime gifts. It is due when the beneficiary is resident in Spain, or the asset being gifted or inherited is a Spanish asset.

Cathal Rochford, Partner Blevins Franks06/12/2023 10:06

Once you are resident in Spain, most UK pension income is only taxed here

Paperwork

Taking your UK pension in Spain Tax and advisory issues to be aware of

A 2021 ruling determines that unless a pension is a Spanish or EU contract, transfers from ‘third country’ pension schemes to EEA pension schemes are subject to personal income tax on the whole fund value, up to 49.5% in the Balearics.

Cathal Rochford, Partner Blevins Franks14/11/2023 13:15

Farming in Spain

Farming in Spain

We are 100 percent sufficient for food and drink.

Paul Richardson 09/10/2023

Waiting at the Post Office

Waiting at the Post Office

What about our Spanish friends - do they always expect to wait 8 minutes 23 seconds to buy a stamp at their local post-office, or was it just me?

EFE 02/10/2023

Digital nomads includes Mallorca as a favourite destination

Lifestyle

Spain ranks among the top 20 European countries for digital nomads

If you’re an avid coffee drinker, Spain is the 11th cheapest place to purchase a coffee, costing only 1.90 euro

MDB Digial02/10/2023 09:51

Financial advisor in Spain

Paperwork

The first step on your financial journey in Spain – choosing your adviser

Your UK adviser is unlikely to know the ins and out of local regulations in the Balearics (which vary from elsewhere in Spain) or keep on top of reforms.

Cathal Rochford, Partner Blevins Franks18/09/2023 12:30

The UK has endured persistently high inflation

Paperwork

Inflation update and planning ahead to protect our savings

It has been two years now since inflation began to climb and we were soon noticing the higher cost of living. Prices peaked last autumn and the situation is improving now.

Cathal Rochford, Partner Blevins Franks18/08/2023 14:07

The UK has endured persistently high inflation

The UK has endured persistently high inflation

The UK has endured persistently high inflation.

EFE 18/08/2023

UK inheritance tax

UK inheritance tax

The standard inheritance tax nil rate band has been frozen at £325,000 since 2009.

EFE 07/08/2023

Sardinero beach in Santander

Sardinero beach in Santander

Sardinero beach in Santander, in the north of Spain.

EFE 27/07/2023

Five hundred euro notes

Paperwork

Strategic financial planning for Spain

Every family is different. Your strategic financial planning must be carefully designed for you.

Cathal Rochford, Partner Blevins Franks24/07/2023 16:32