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BerichtGeplaatst: 13-02-2019 03:05:46    Onderwerp: benefits, and loan guarantee Reageren met citaat
QROPS Spain. Pension Tax Relief
British expats living in Spain or wishing to retire in Spain can now transfer their pension into a QROPS Spain to maximize pension tax relief. UK expats living or working in Spain can take advantage of their offshore status and transfer their UK pension offshore to somewhere secure like the Isle of Man or Guernsey and will no longer have to pay UK taxes on their pension if they stay offshore.
If you are resident in Spain Oren Burks Packers Jersey , your UK state pension and any occupational pension income will be taxable only in Spain and not in the UK, under the terms of the UK-Spain Double Taxation Treaty. UK Government Service Pensions will remain taxable in the UK and will not be taxed in Spain.
There is a small personal allowance for any income received in Spain which is non-taxable. For 2011, this is 17,707 Euros and then you will be taxed at between 12% and 23.5%, considerably lower than in the UK. Income from your UK Personal Pension will be taxable only in Spain and not in the UK. Generally, it will be added to your Spanish income and taxed at the appropriate rate, however, with careful planning the amount of your pension income that is liable to Spanish tax can be reduced significantly.
If you receive your pension lump sum whilst resident in Spain, however, it is taxable in Spain. The taxable amount is calculated as the difference between the capital received and the contributions you made and this 鈥榠ncome鈥?will be taxed at 19% or 21%, depending on the total amount of 鈥榮avings income鈥?you receive that year.
Why transfer your UK pension into a QROPS?
More than 990,000 Brits live and work in Spain, whilst 74,636 are pensioners. For the Brits living in Spain, you can take advantage of your offshore address to reduce UK tax on your pension as well as protect your wife and children from high taxation should anything happen to you. One of the benefits of a QROPS is the availability to hold multiple currencies, so you could hold a portion of your pension in Pounds, Euros or Dollars or just hold the entire pension in one currency. Furthermore you have complete investment freedom, allowing you to invest your hard earned pension into virtually any bonds, cash, money markets, mutual funds, ETF鈥檚, shares or property investment.
If you just want a low risk pension, we can invest 100% or a proportion of your funds into bank notes which offer 100% capital guarantee, so you have complete piece of mind. These can be used in the QROPS. Plus, you will be free from UK inheritance tax and death tax, so if anything happens to you, your family gets the lot.
QROPS Spain. Pension Tax Relief

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What are the benefits of a QROPS Spain Pension Transfer for UK expats?
鈥?Avoid UK income tax
鈥?Avoid UK dividends tax
鈥?Avoid UK capital gains tax (CGT)
鈥?Avoid UK inheritance tax (IHT)
鈥?Currency choice. You can choose to have your pension transferred to a QROPS denominated in USD, EUR or keep it in GBP
鈥?Have the ability to make higher returns with freedom of investment
鈥?Family Protection: Upon death, the entire pension pot gets passed on to your nearest and dearest
鈥?Security: The pension is held in a secure jurisdiction such as Guernsey or the Isle of Man which is under the protection of the British Crown, but has its own strong financial regulations which are tax efficient
What is QROPS Spain?
A Qualifying Recognized Overseas Pension Scheme (QROPS Spain) allows your UK pension to be transferred offshore to reduce your tax burden. Effectively, you will no longer pay UK tax on your pension whilst you are offshore and after 5 years of living offshore, the reporting requirements to HMRC cease.
If you are living in Spain at the moment, you can take advantage of your offshore address in order to move your UK pension into a QROPS to avoid further UK taxes down the line. A QROPS is the perfect vehicle to avoid UK taxes if you are considering living or retiring abroad.
What is the economy like in Spain?
Spain’s mixed capitalist economy is the twelfth largest in the world, and its per capita income roughly matches that of Germany and France. However, after almost fifteen years of above average GDP growth, the Spanish economy began to slow in late 2007 and went into a recession in the 2nd quarter of 2008. GDP actually fell by 3.7% in 2009 and by another 0.2% in 2010, making Spain the last major economy to emerge from the global financial crisis.
The reversal in Spain’s economic growth reflected a significant decline in construction amid an oversupply of housing and falling consumer spending, whilst exports actually began to grow. Government efforts to boost the economy through stimulus spending, extended unemployment benefits, and loan guarantees did not prevent a sharp rise in the unemployment rate, which rose from a low of about 8% in 2007 to 20% in 2010. The government budget deficit worsened from 3.8% of GDP in 2008 to about 9.7% of GDP in 2010, more than 3 times the euro-zone limit.
Spain’s large budget deficit and poor economic growth prospects have made it vulnerable to financial contagion from other highly-indebted euro zone members despite the government’s efforts to cut spending, privatize industries, and boost competitiveness through labor market reforms. Spanish banks’ high exposure to the collapsed domestic construction and real estate market also poses a continued risk for the sector. The government oversaw a restructuring of the savings bank sector in 2010, and provided some $15 billion in capital to various institutions. Investors remain concerned that Madrid may need to bail out more troubled banks. The Bank of Spain, however, is seeking to boost confidence in the financial sector by pressuring banks to come clean about their losses and consolidate into stronger groups.
Spanish household debt in 2011 is high at 120% of di



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