Deduction For Double Taxation On Foreign Inheritances For Spanish Residents: Do I Have To Pay Inheritance Tax In Both Countries?
When receiving an inheritance from abroad while being a tax resident in Spain, several important aspects must be borne in mind so that the process is handled correctly and all the legal and tax obligations are met. In our previous article “Receiving an inheritance from abroad: special considerations for Spain taxpayers“, we explained all the...
How Investment Capital And Income Is Taxed In Spain
How much tax you pay on your investment capital and income in Spain is determined by your circumstances and the structure of your assets. Here, we break down some of the important considerations that affect your financial situation as an expatriate living in Spain. Written by Jason Porter of Blevins Franks Whether you have bank...
The UK Tax Residence Test And Expatriates – Are You Sure You Have Escaped UK Taxation?
The UK statutory residence test determines whether or not individuals are resident in the UK for tax purposes. It can continue to impact British expatriates more than you realise, so it’s important to understand the rules and follow them carefully where necessary. Written by Jason Porter of Blevins Franks You may be settled in a...
How To Retire Abroad To Spain With Financial Peace Of Mind
Anyone recently retired or approaching retirement is entering a new and exciting phase in life. While some worry retirement will be boring, many embrace the freedom it offers. Spain certainly offers a beneficial lifestyle for retirees. But long-term financial security is crucial to help you enjoy your retirement years. Retire abroad to Spain with financial...
Your Guide To UK Pensions As An Expat In Spain
Whether you’ve already moved to Spain, or you plan to retire there, it is important to have a good understanding of your pension portfolio. It is likely that your UK pensions are the major contributor for your income in retirement. Therefore, it is important to have a good understanding to ensure they last as long...
Benefits Of A Spanish Compliant Investment Bond As A British Expat
One of the major goals of every investor is to find ways to reduce costs and enhance the growth of their investments. Different kinds of investments have different rules that apply to them and influence their growth and profitability. To make the right choices, you need to have a good understanding of how these...
Receiving An Inheritance From Abroad: Special Considerations For Spain Taxpayers
My habitual residence is in Spain and I have received an inheritance from abroad. Do I have to pay taxes in Spain? Can I deduct inheritance tax paid abroad? Written by Dimitrichka Nedelcheva Anghelova, tax lawyer. AGM Abogados The tax consequences in Spain of receiving an inheritance abroad will depend on where the heir lives...
Spain’s Co-Investment Fund (FOCO)
In Spain, the Council of Ministers of 27 December 2023 approved the creation of the Co-Investment Fund (also known as “FOCO” in Spain). The management of the Fund is entrusted to COFIDES and will have resources from the Next Generation EU instrument and a budget of €2 billion. The purpose is to mobilise resources from...
When Am I A Tax Resident In Spain? How Do I Calculate The 183 Days?
Many people like to spend time in Spain especially if they have a holiday home in the country. However, if you spend too long in Spain you can become tax resident in Spain and become subject to tax on your worldwide as well as Spanish income. Here Nedelcheva Anghelova, tax lawyer at AGM Abogados, explains...
Financial Planning When Moving To Or Living In Spain
An overview of the Spanish tax system and the issues you need to address before you move to Spain as well as insight into effective financial planning when living in Spain. Planning for retirement and inheritance tax issues. In this webinar Brett Hanson of Blevins Franks in Spain gives you an insight into the differences...
Does The “Empadronamiento” In Spain Imply Tax Residence In Spain?
If being “empadronado” (registered) implies consequences and fiscal obligations to the Tax Administration, just for the fact of having municipal registration is a recurring question that many citizens frequently ask. First, it’s essential to bear in mind that the “empadronamiento” is an administrative concept, which is regulated by Law 7/1985 on the Bases of the...
Long Term UK Expats May Face Huge UK Tax Charges
UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT). The rate of this tax might be considered penal. It is currently 40% on the total value of the estate of a deceased after the exemptions. It is an additional tax payable on capital accumulated...