How investment capital and income is taxed in Spain
An approved life assurance policy, where you hold your choice of investments within its ‘wrapper’, can provide tax advantages in Spain.
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.
Balearics reduces wealth tax
In welcome news, the government of the Balearics autonomous region announced significant changes to the wealth tax allowances in December.
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.
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.
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.
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.
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.
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.
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.
Farming in Spain
We are 100 percent sufficient for food and drink.
From Eton to running a small farm in Spain
Meet Paul Richardson who has embraced the Spanish way of life.
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?
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
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.
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.
The UK has endured persistently high inflation
The UK has endured persistently high inflation.
UK inheritance tax
The standard inheritance tax nil rate band has been frozen at £325,000 since 2009.
‘August, nothing much to think about’ rant in Soller
It really is party time in the Soller Valley.
Sardinero beach in Santander
Sardinero beach in Santander, in the north of Spain.
- Spain wants Britons to show they have 113.40 euros, £97, per day for their holidays
- Big changes on the horizon when Britons travel to Mallorca
- Over two hours for Britons to get through Palma airport queues
- Palma Airport passport control "collapse" put down to unscheduled flights
- Living in a motorhome in Palma: "It'll only get worse"