Tax Advantages For Residents

Tax advantages for residents

It’s never easy to understand the tax regulations when you first move abroad, so it makes sense to have the right advisors on your side. It’s worth noting that income tax and other forms of taxation in Spain can be very complex, so professional guidance, especially for those who haven’t been in the country for a long time, is strongly recommended.

 

Unlike in the UK, the Spanish tax year runs from January to December. If you spend more than 183 days per year in the country, or your main professional activities are in Spain, or you have a Spanish spouse or children, you will be considered a tax resident of the country. This is an important distinction because it will have a bearing on your personal tax situation.

 

If you work for a Spanish firm, however, you could benefit from a ruling that was brought in to encourage foreign workers to come to Spain. Under this rule, you can be regarded as a non-resident, even if you live in the country. Top earners could see their general income tax drop from more than 55% to a little less than 25%. Again, it’s a good idea to consult a Spanish tax specialist to find out more.

 

Whether you’re regarded as a resident or not, there will be, just as in the UK, a personal allowance that you will be able to earn tax-free. How much this allowance is will depend on the level of your earnings.

 

It’s possible to earn a good living in Spain and of course to enjoy a wonderful new life under the sun. To find a fabulous new property on the celebrated Costa del Sol, have a chat with our team soon on +34 682 66 22 89. We look forward to hearing from you.

Words from our customers

  • Thank you both for your efforts and we shall certainly pass on your name to anyone we know who wishes to sell in the future.  My best regards

    Margaret Evans

  • A huge THANK YOU to you and Neil for everything out have done for me, you have been BRILLIANT.  Wishing you both all the joys of Christmas and may 2018 bring you Health, Wealth and Happiness.

    Love Pat xx

  • Thank you so much for all your help in getting this completed so efficiently. Best regards

    J

Web Design by: Purple Imp