Hi, we're thinking of applying for a Non Lucrative Visa to live in Spain. We have had an apartment for 8 years in Estepona.
The thing that is confusing us is the tax implications with financial interests in England and living in Spain.
Can anyone recommend a really good accountant who can explain the complicated Spanish tax system.
Thanks in advance,
Martin
Posted: Mon Jan 23, 2023 12:39am
Very helpful member
Here is link to one. also with office in UK. https://www.lemon.consulting/
If you obtain a Non Lucrative Visa it means your 'tax residence becomes Spanish', they call it a Visa, but it means becoming a resident and you are given what is called a TIE resident card. The tax years starts 1st January, back dated, your UK assets and income will be counted as Spanish. There is a provision for retired civil servants pensions to be taxed in the UK, you need good advice before you make a move.
There is one silver lining, Andalucía has made a landmark reform by establishing a tax-free base of €1 million for inheritances per inheritor. The tax on estates over €1 million has also been suppressed 99%.Effective from the 2022 tax year. Andalucía has also reintroduced the 100% tax credit for wealth tax, effectively abolishing wealth tax, in the past assets over 700K were taxes.
Thanks David.
I'll have a look on their website.
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