Small Victory for UK Homeowners in Spain

A court decision in Spain has opened the way for thousands of UK citizens to reclaim some of the tax they paid when they sold their homes there. The High Court in the region of Valencia has ruled in favour of a British couple, Mr and Mrs Roy. It told the Spanish tax authorities to [...]

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Spanish Tax Men Get Tough On British Homeowers

Owners of Spanish property could lose their homes if they fail to produce new identification documents proving their non-resident status, writes Ali Hussain of the Times Newspaper. Britons who use their overseas accounts to pay for their Spanish mortgages and essentials such as utility services and council taxes, have been required by Spanish banks to [...]

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Spanish Wealth Tax Abolished

Spanish ‘Wealth Tax‘ has been abolished with effect from 1 January 2008. (Impuesto Extraordinario sobre el Patrimonio) As this tax was levied based on assets held on 31 December of a given year, the tax for 2007 will therefore be payable as usual during 2008. However no wealth tax will be payablle for 2008 itself [...]

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Spanish Pensions Surplus

Spain’s Social Security system is on track to post a surplus in excess of the government’s EUR 8-billion target this year. MADRID – Spain’s Social Security system is on track to post a surplus in excess of the government’s EUR 8-billion target this year, even in the light of recent increases in unemployment and slower [...]

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QROPS Press Release

The UK Inland Revenue has given Britons living abroad an unexpected bonus. For those who intend to remain permanently abroad it is now quite simple to transfer their UK pensions to more tax friendly jurisdictions via a Qualifying Recognised Overseas Pension Scheme (QROPS). After a qualifying period individuals can access their funds in their entirety [...]

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Liechtenstein Scandal Update

An update to the story earlier – http://spanish-taxes.co.uk/spain/liechtenstein-fraud-probe-spreads-to-spain-as-tax-office-picks-up-trail/ The Spanish tax office confirmed at the weekend that it has obtained the names of 100 Spanish citizens believed to have evaded taxes in Liechtenstein 3 March 2008 MADRID – The Spanish tax office confirmed at the weekend that it has obtained the names of 100 Spanish [...]

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Liechtenstein Fraud Probe

A rapidly expanding international probe into tax evasion centred on Liechtenstein spread to Spain on Tuesday. 27 February 2008 MADRID – A rapidly expanding international probe into tax evasion centred on Liechtenstein spread to Spain on Tuesday, with the Spanish tax office confirming that it is joining a growing list of countries investigating citizens with [...]

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Controversy Surrounds Spanish Tax Cut Vows

With less than six weeks to go before a hard-fought general election in which the economy has moved centre stage, Spaniards are being showered with promises of tax cuts. But as government and opposition compete with prospective tax breaks, the electorate’s response remains wary. José Luis Rodríguez Zapatero, the Socialist prime minister who is seeking [...]

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Overseas Pension Transfers

If you have deferred benefits in the UK they will either come from a personal pension or from an occupational pension scheme. Both will entitle you to some tax free cash with the balance of the fund to be used to provide an income either via an annuity or via income withdrawal.

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Expats 'vulnerable to IHT laws'

As the number of Britons taking up residence in Spain and France soared to a total of 961,000 by the end of 2006, the WAY Group reported a ‘significant’ rise in enquiries from expats concerned by highly complex taxation laws in both France and Spain, especially for Brits who are non-domiciled – i.e., living permanently [...]

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