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Pension tax free lump sum

Discussion forum for expats moving to or living in Spain.

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Pension tax free lump sum

Post Posted: Fri Jun 30, 2006 3:01 pm

Forgive me for posting to multiple fora, but I really need an answer to this today:

If I am fiscally resident in Spain at the time I start receiving my (non-government, not annuity based) pension, will any "tax free" lump sum be taxed?

 

RMCG
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Re: Pension tax free lump sum

Post Posted: Sun Jul 02, 2006 11:34 pm

Sorry I've been away so hence the late answer. If you are a Spanish resident you will be subject to Spanish Tax laws and therefore your hiterto tax free lump sum if received in the UK will become taxable so I understand in Spain at standard rates. The only difference is if you have a Civil Service / Government pension and this will always be taxed in the UK

 

Mitzyboy
Forum Legend
Forum Legend
 
 
  
Re: Pension tax free lump sum

Post Posted: Mon Jul 03, 2006 2:12 pm

That's what I thought. Never mind, I've now taken the option that allows me to take the lump sum - or not, depending on circumstances at the time.

 

RMCG
Newbie
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