Without proper tax planning you could end up paying considerably more tax than necessary. The rules are complicated and there is a requirement to annually declare all overseas assets. With the introduction of Common Reporting Standards the Spanish authorities will also automatically receive information about your income and asset holdings elsewhere so it is important to ensure that your tax declarations are correct.
Although the regime sounds onerous with our help you should be able to enjoy favourable tax treatment.
Our advisers are here to help you structure your investments and pensions to ensure that you benefit from the tax efficient schemes available to Expats in Spain. It is really important that you recognize that tax efficiency means aligning your assets with your residential status. Holding onto UK investments when resident in Spain can be detrimental to your wealth and it is equally important to review your pension arrangements preferably before you move to Spain particularly if you intend to retire there.