Thinking of moving to Spain
Discussion
I am seriously considering running my UK business abroad (Spain) and would like to know what the tax implications would be.
My customers are generated via the web and will call/email me. My landline number is a through voip so I could basically trade anywhere in the world where there is internet access.
I would ideally keep my UK Bank account.
How best would this be done?? Ie would it be better to keep it reg here or open it in spain with Spanish banks. My only issue with that would be payments i.e how long do they take to clear?
Thx in advance
My customers are generated via the web and will call/email me. My landline number is a through voip so I could basically trade anywhere in the world where there is internet access.
I would ideally keep my UK Bank account.
How best would this be done?? Ie would it be better to keep it reg here or open it in spain with Spanish banks. My only issue with that would be payments i.e how long do they take to clear?
Thx in advance
I've spent some years in Spain. Halifax have branches in the popular areas www.halifax.es and if you have a UK Halifax bank account also you can transfer funds between the two free of all charges.
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
Eric Mc said:
You also need to understand that "moving" to Spain does not mean that you will automatically escape UK taxes.
I am not going to escape taxes I am going for hopefully a better life.I am happy(well as happy as you can be) to pay my taxes I just want to understand the best way of doing this financially.
Robin Hood said:
I've spent some years in Spain. Halifax have branches in the popular areas www.halifax.es and if you have a UK Halifax bank account also you can transfer funds between the two free of all charges.
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
Thanks for that, I will be using VOIP for my calls so this is a necessityIf you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
m3sye said:
Eric Mc said:
You also need to understand that "moving" to Spain does not mean that you will automatically escape UK taxes.
I am not going to escape taxes I am going for hopefully a better life.I am happy(well as happy as you can be) to pay my taxes I just want to understand the best way of doing this financially.
My understanding is that there is a dual taxation agreement between EU countries to prevent businesses being taxed on the same profit twice. My recollection is that if you spend a lot of time in Spain you are required to have a residencia - this is part citizenship, but it does make you part of the Spanish system in all respects
What you need to get round the legal minefield is a good abrogado (lawyer)who can help you stay on the right side of things. One who is used to dealing with ex-pats is best
As this is a motoring site it's worth mentioning that if you take your UK car over and stop paying UK road fund licence (as many do)you will eventually be required to put your car on Spanish plates - which can now be done for RHD cars
What you need to get round the legal minefield is a good abrogado (lawyer)who can help you stay on the right side of things. One who is used to dealing with ex-pats is best
As this is a motoring site it's worth mentioning that if you take your UK car over and stop paying UK road fund licence (as many do)you will eventually be required to put your car on Spanish plates - which can now be done for RHD cars
Robin Hood said:
I've spent some years in Spain. Halifax have branches in the popular areas www.halifax.es and if you have a UK Halifax bank account also you can transfer funds between the two free of all charges.
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
I lived on Mallorca for 5 years, lived in a few properites and always found telefonica to offer a 1st class service.If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
If you live in Spain for more than 6 months of the year, you will pay tax on your worldwide income, however your business will then not be taxed by the UK government. If you can move your business to spain, do it.
Robin Hood said:
I've spent some years in Spain. Halifax have branches in the popular areas www.halifax.es and if you have a UK Halifax bank account also you can transfer funds between the two free of all charges.
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
I lived on Mallorca for 5 years, lived in a few properites and always found telefonica to offer a 1st class service.If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
If you live in Spain for more than 6 months of the year, you will pay tax on your worldwide income, however your business will then not be taxed by the UK government. If you can move your business to spain, do it.
GPSS said:
Robin Hood said:
I've spent some years in Spain. Halifax have branches in the popular areas www.halifax.es and if you have a UK Halifax bank account also you can transfer funds between the two free of all charges.
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
I lived on Mallorca for 5 years, lived in a few properites and always found telefonica to offer a 1st class service.If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
If you live in Spain for more than 6 months of the year, you will pay tax on your worldwide income, however your business will then not be taxed by the UK government. If you can move your business to spain, do it.
The Moose said:
Robin Hood said:
you can transfer funds between the two free of all charges.
Bet its a s
t rate tho!!GPSS said:
Robin Hood said:
I've spent some years in Spain. Halifax have branches in the popular areas www.halifax.es and if you have a UK Halifax bank account also you can transfer funds between the two free of all charges.
If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
I lived on Mallorca for 5 years, lived in a few properites and always found telefonica to offer a 1st class service.If you do go for it ensure the intended property has a working telephone line, it can take months for Telefonica to put one in. If the property has has had a line before and it's been disconnected they don't do it like BT. They take out the phone and all the wiring back to the telegraph pole, nightmare to get it put back in again, months as said
If you live in Spain for more than 6 months of the year, you will pay tax on your worldwide income, however your business will then not be taxed by the UK government. If you can move your business to spain, do it.
dcb said:
StevieBee said:
Any reason why Spain? - apart from the climate?
and the food and the laid back lifestyle and the cheapbooze and the 100,000 Brits already living out there ...
The New Yorkers have Florida, the Brits have Spain.
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