Reply To: Moving from UK to Spain – how do taxes differ?

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#228348
HG
Participant

Hello,

Taxes here are more complicated in my opinion than other EU countries.  The only thing that you might want to watch out for (applies in many countries as well), is that if you are a resident here you are taxed on your GLOBAL income. This means, for example, if you have an apartment in the US, Singapore, or wherever, you need to pay income tax to the Spanish tax agency.  Or, if you receive dividends/income from anything else in the UK, you need to pay the Spanish authorities tax if you are a resident here. Not doing so can lead to massive penalties.   Just something to know before making such a big decision.  Another one, is that if you sell any UK property you need to pay the Spanish tax authorities roughly 20% capital gains tax.

Thanks!