How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask José M. Your Own Question
José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 6057
Experience:  Spanish Attorney
54639574
Type Your Spain Law Question Here...
José M. is online now

I will emigrate to Spain in March 2014. Around January 2014,

Customer Question

I will emigrate to Spain in March 2014.
Around January 2014, the equity from my house sale in England will go into my English bank account.
In February 2014, my lump sum from my governemnt pension will go into my English bank account.
When I first declare my worldly goods/ pay tax as a Spanish resident in January 2015, will I be taxed by the Spanish tax authorities on the house equity/ pension lump sum, on the grounds that it was within the past tax year in Spain (even thought I was an English resident at the time of depositing the money)?
Submitted: 3 years ago.
Category: Spain Law
Expert:  José M. replied 3 years ago.

José M. : Hi there. José M spanish attorney. Its right you will have to declare. But if you pay taxes in England the will be deductibles in Spain
José M. : So ay least may be you do not have to pay a penny
José M. : Taxes paid in England will be deductibles in Spain. If you do not pay there you will have to pay here. Thank you
JACUSTOMER-5mlza15j- :

I cannot believe I have just paid £40 for this "high level of detail". It is a shameful piece of extortion. The answer completely avoids the question, as in England, citizens do not pay tax on pension lump sums. Neither do they pay tax on money they gain from house sales. These are always tax free. Are you saying that the Spanish tax authorities will effectively take £75 000 from me in tax before I even step foot in the country?

José M. :

Hi there

José M. :

I am sorry to say that if you sell as you are permanent resident in Spain you will have to pay

José M. :

The profit you got on the business is charged in Spain 19 per cent of the first 6000 euros of the profit and 21 per cent the rest of the profit

José M. :

So, in my opinion your better chance is not to have permanent residence in the year you sell and to have residence this year in UK and avoid to pay taxes

José M. :

As long as they see the money in the account as you were in Spain you could be charged with taxes

José M. :

I am sorry to say that I have no idea about taxes in UK, but for sure you will have to pay taxes in Spain if you sell and you are resident in Spain in this moment

José M. :

I will be here if needed, please ask so many times as you need

José M. :

Thank you