As always, excellent video. Quick question: Let's say I sell my house in July 2025, and move to Spain in October 2025. Do I have to pay the capital gain tax in Spain too? If I understand Flor correctly, (Transcript 32:52-34:07) I should not have to, because I won't become a tax resident until April 2026. Is that an accurate statement? Gracias!
@@c.r.3307 thanks for watching!! In principle I’d say no as tax residency based on time spent in Spain would start from January 2026 in the case described, but definitely get a professional assessment too to be sure. Hope this helps!!
Interesting discussion, which is generally better for Tax Consulting (assisting with filing taxes) Accountant or lawyer. I have two questions around Beckhams law 1. Tax consultant mentioned that I didn't have to pay anything from my stocks and dividend because the stockbroker(etoro) is not based in Spain. 2. Employer contributed pension is taxed for Beckhams Law. If I intend to work and retire in spain is the tax I have already paid considered or is there a refund if I am still residing in Spain after Beckhams law
Thanks for watching Chinedu! I'd get a professional opinion but my thoughts (not financial advice) would be: An accountant will file taxes but may not necessarily be able to point out ways to lower one's tax burden the same way a tax lawyer might be able to. 1. Not necessarily true, if there are capital gains or dividends in a tax year they should be declared regardless of where the assets are located. Unless they are referring to the 720 form, if those assets combined with others outside of Spain do not exceed 50k€ then they don't need to be declared. 2. I'm not sure I understand this question, basically Beckham law is applicable for up to 6 years once tax residence is established, and is applied on any income during that time. Hope this helps!
@MillennialsWithMoney thanks for the response. To clarify on point 2, my employer contributes a portion to a private pension which I have to pay tax on. My question then is would I pay tax again on that portion at retirement
Great video, and super informative. Jonny., We are from the U.S.A. Anything on retired people living abroad on a fixed income of around 60k a year? (source: S.S. and investments) My wife and I are contemplating moving to the Costa del Sol area on a Non - Lucrative Visa next year once our home is sold. Thank you, keep up the good work.👍
Thank you so much for the video! Would you please know why some people pay a fixed rate on their income from abroad (I think it's 24%) instead of the progressive rates? This is so confusing. The people that I know that pay the fixed rate are Spanish nationals but even some foreigners think that this is what they will pay in Spain.
If you need help with taxes in Spain, be sure to book a consultation with PRO Spain Consulting! prospainconsulting.com/main?
As always, excellent video. Quick question: Let's say I sell my house in July 2025, and move to Spain in October 2025. Do I have to pay the capital gain tax in Spain too? If I understand Flor correctly, (Transcript 32:52-34:07) I should not have to, because I won't become a tax resident until April 2026. Is that an accurate statement? Gracias!
@@c.r.3307 thanks for watching!! In principle I’d say no as tax residency based on time spent in Spain would start from January 2026 in the case described, but definitely get a professional assessment too to be sure. Hope this helps!!
@@MillennialsWithMoney Jonny, thanks for the prompt response. Very helpful feedback. Again, Thank you.
Interesting discussion, which is generally better for Tax Consulting (assisting with filing taxes) Accountant or lawyer. I have two questions around Beckhams law
1. Tax consultant mentioned that I didn't have to pay anything from my stocks and dividend because the stockbroker(etoro) is not based in Spain.
2. Employer contributed pension is taxed for Beckhams Law. If I intend to work and retire in spain is the tax I have already paid considered or is there a refund if I am still residing in Spain after Beckhams law
Thanks for watching Chinedu! I'd get a professional opinion but my thoughts (not financial advice) would be:
An accountant will file taxes but may not necessarily be able to point out ways to lower one's tax burden the same way a tax lawyer might be able to.
1. Not necessarily true, if there are capital gains or dividends in a tax year they should be declared regardless of where the assets are located. Unless they are referring to the 720 form, if those assets combined with others outside of Spain do not exceed 50k€ then they don't need to be declared.
2. I'm not sure I understand this question, basically Beckham law is applicable for up to 6 years once tax residence is established, and is applied on any income during that time.
Hope this helps!
@MillennialsWithMoney thanks for the response. To clarify on point 2, my employer contributes a portion to a private pension which I have to pay tax on. My question then is would I pay tax again on that portion at retirement
@@Chinedu311 I see, it would depend if the 6 years of Beckham law is still applicable when in retirement or if they have lapsed
@@MillennialsWithMoney okay thanks
Great video, and super informative.
Jonny.,
We are from the U.S.A. Anything on retired people living abroad on a fixed income of around 60k a year? (source: S.S. and investments) My wife and I are contemplating moving to the Costa del Sol area on a Non - Lucrative Visa next year once our home is sold.
Thank you, keep up the good work.👍
@@c.r.3307 thanks for watching!! All the best with the planned move 😁
Thank you so much for the video! Would you please know why some people pay a fixed rate on their income from abroad (I think it's 24%) instead of the progressive rates? This is so confusing. The people that I know that pay the fixed rate are Spanish nationals but even some foreigners think that this is what they will pay in Spain.