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Minimum income - do we still need to submit a tax return?
Minimum income - do we still need to submit a tax return?
by traceracing » Wed May 18, 2022 11:27 am
We moved to Spain under the WA back in Sep 2020, so 2021 was our first year of fiscal residency.
We are pre pension ago and living off savings (all declared on our Modelo720 back in Feb). Our savings earn interest at the staggering rate of around 46p per month.
Speaking to a couple of accountants they want to charge between 150 - 250 Euro to complete and submit our tax returns. Seems to me to be far in excess of what the tax would be on the income.
Is there a minimum threshold below which you make a declaration or don't make a submission?
If I must make a submission, any local (to Quesada) accountants who won't charge the earth ?
TIA
We are pre pension ago and living off savings (all declared on our Modelo720 back in Feb). Our savings earn interest at the staggering rate of around 46p per month.
Speaking to a couple of accountants they want to charge between 150 - 250 Euro to complete and submit our tax returns. Seems to me to be far in excess of what the tax would be on the income.
Is there a minimum threshold below which you make a declaration or don't make a submission?
If I must make a submission, any local (to Quesada) accountants who won't charge the earth ?
TIA
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Re: Minimum income - do we still need to submit a tax return
by Chrisdee » Wed May 18, 2022 11:50 am
We have solicitors/accountants where we pay a yearly fee, they keep our deeds and other important bits and pieces we get free advice from them and they do our tax returns at no Extra Cost.
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Re: Minimum income - do we still need to submit a tax return
by marcliff » Wed May 18, 2022 12:48 pm
e.
Last edited by marcliff on Tue Mar 26, 2024 7:07 pm, edited 1 time in total.
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Re: Minimum income - do we still need to submit a tax return
by willemite » Wed May 18, 2022 1:19 pm
That’s interesting re solicitors. I’ll check with ours and see what their annual fee is.
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Re: Minimum income - do we still need to submit a tax return
by LizzyW56 » Thu May 19, 2022 7:48 am
I use a firm called http://antonyasociados.com/ to do my tax return. I have 2 private pensions and a salary (so must do a tax return). I present all my stuff by email ie p60s from my pensions, year end salary summary provided by my employer and my tax certificate from my bank and then have to go along to the office when the declaration is ready to sign. Quite simple and quick. They charge me e30 to do this.
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Re: Minimum income - do we still need to submit a tax return
by Brewingdog » Thu May 19, 2022 9:12 am
Chrisdee wrote:We have solicitors/accountants where we pay a yearly fee, they keep our deeds and other important bits and pieces we get free advice from them and they do our tax returns at no Extra Cost.
Don't mean to be rude but, can you say who you use and how much they charge for the service they provide.
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Re: Minimum income - do we still need to submit a tax return
by Chrisdee » Thu May 19, 2022 9:52 am
We use a company called PSB in Torrevieja, they charge I think around 250 for the 2 of us.
I believe Matcliff uses another one and it's slightly less ? The parking for us is a mere, Marcliffs maybe better positioned too.
I believe Matcliff uses another one and it's slightly less ? The parking for us is a mere, Marcliffs maybe better positioned too.
Brewingdog wrote:Chrisdee wrote:We have solicitors/accountants where we pay a yearly fee, they keep our deeds and other important bits and pieces we get free advice from them and they do our tax returns at no Extra Cost.
Don't mean to be rude but, can you say who you use and how much they charge for the service they provide.
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Re: Minimum income - do we still need to submit a tax return
by Darro » Thu May 19, 2022 6:34 pm
€22,000 only applies those employed not non actives or retirees, for them the threshold is €16,000.marcliff wrote:After the first year, you are not required to submit a tax return if your gross income is less than €22,000 but only from one source
Note even where income does not reach the minimum failure to submit an annual return may result in the reintroduction of prescription charges, I know as it happened to my wife whose sole income is her UK state pension.
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