Tag Archives: expats

Expats urged to seek advice on new tax laws before deciding to leave Spain

Capture17 May, 2013

New financial reporting requirements in Spain have prompted many expat residents to think about leaving the country. The new tax laws require anyone who resides in Spain for more than six months of the year and owns overseas assets amounting to more than 50,000 euros to declare them.

Although this will certainly ring true for many expats, those affected should seek financial advice before deciding to leave as there may be ways of reducing the impact of the new laws.

Read the full story here: www.telegraph.co.uk

British expats in Spain – asset declaration deadline looming

15 April, 2013

7153_18British expats have until 30 April 2013 to declare their assets outside of Spain.

Who needs to declare?

British people living in Spain need to declare each asset, e.g. a holiday home, worth over €50,000 (£44,000) to the Spanish authorities under new rules designed to stop tax evasion.

You’ll be considered a resident in Spain if you spend more than 183 days a year in the country, or if your spouse and dependent minor children live there. The Spanish authorities will also be looking for those who not only own any assets, but are the beneficiary or authorised signatory.